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Regarding partners and partnerships: a. A partnership is a taxable entity. b. Partners use Schedule J of Form 1065 in preparing their tax returns. c.
Regarding partners and partnerships: a. A partnership is a taxable entity. b. Partners use Schedule J of Form 1065 in preparing their tax returns. c. A partner's outside basis is increased when income flows through from the partnership. d. A partnership files Form 1065. e. A partner must generally pay tax on any withdrawals.
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