#13 When a corporation with a June 30 year end files a timely extension, the corporation has ____________ more months to file its tax return.

#14 If a corporation has receipts from sales of $120,000, operating expenses of $70,000, charitable contributions of $10,000, and dividends received from domestic corporations (less than 20% owned) of $10,000, its taxable income for any year other than 2020 is $____________.

#16 Limited liability companies are:

		another name for limited liability partnerships.
		legal partnerships for purposes of state and federal income taxes.
		flow-through entities for federal tax purposes, unless they elect to be treated as corporations for tax purposes.
		none of the above.

#20 Which of the following increases a partner's basis in a partnership interest?

		Cash distributions received from the partnership
		A decrease in the liabilities of the partnership
		The partner's allocable share of tax-exempt interest
		The partner's allocable share of Section 179 expense