a. b. Indicate whether the following statements are "True" or "False" regarding income from partnerships, S corporations, trusts, and estates. A partnership is a separate taxable entity. A small business corporation may elect to be taxed similarly to a partnership True Each partner report his or her distributive share of the partnership's income and deductions for the partnership's tax year ending in or with the partner's tax year. False d. The beneficiaries of estates and trusts generally are taxed on the income eamed by the estates or trusts that is actually distributed or required to be distributed to them. C