6. Limited partners must consider the at-risk, basis and passive loss limitations when determining the amount of their deductible loss.

a. True

b. False

7. Identify which of the following statements is true.

a. A partnership cannot have an NOL carryback or carryforward.

b. Dividends received by a partnership from a domestic corporation are included in the partnerships ordinary income.

c. A partnership cannot make charitable contributions.

d. All of the above are false.

8. Guaranteed payments are always ordinary income to the recipient.

a. True b. False