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One of the following statements is incorrect. Explain.A partnership is not a tax - paying entity for Federal income tax purposes.Partnership income is comprised of

One of the following statements is incorrect. Explain.A partnership is not a tax-paying entity for Federal income tax purposes.Partnership income is comprised of ordinary partnership income or loss, guaranteed payments, and separately stated items.A partnership is required to file a return with the IRS.A partners profit-sharing percentage may differ from the partners loss-sharing percentage.

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