Indicate whether the following statements are "True" or "False" regarding income from partnerships, S corporations, trusts, and estates.

a$.$ A partnership is a separate taxable entity.

b$.$ A small business corporation may elect to be taxed similarly to a partnership.

c$.$ Each partner reports 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.

d$.$ The beneficiaries of estates and trusts generally are taxed on the income earned by the estates or trusts that is actually distributed or required to be distributed to them.