solve the next questions

1.- Which, if any, of the following are the same in the federal income tax treatment of individuals and regular ( C ) corporations?

a. Applicable income tax rates

b. The rules governing the recapture of depreciation claimed on real property

c. Deduction for dividends received from a corporation

d. Treatment of interest received on tax-exempt bonds

e. None of the above

2.- Which of the following do not increase a partners basis in the partnership interest?

a. additional contributions the partner makes during the year

b. the partners share of the tax-exempt income

c. the partners distributive share of partnership items of income and gain

d. all of the above increase a partners basis in the partnership interest

3.- As of January 1, 2019, Victor, the sole shareholder of Shrike Corporation, had a basis in the stock investment of $50,00. For tax Corporation, had a basis in his stock investment of $50,000. For tax year 2019, Shrike Corporation had taxable income of $60,000 and made a cash distribution to Victor of $40,000. Under these circumstances and assuming Shrike Corporation is a regular ( C ) corporation, Victors basis in his stock investment as of January 1, 2020 is:

a. $10,000

b. $20,000

c. $50,000

d. $70,000

e. None of the above

4. As of January 1, 2019, Tony, the sole shareholder of Heron Corporation, had a basis in his stock investment of $50,000. For taxyear 2019, Heron Corporation had taxable income of $60,000 and made a cash distribution to Tony of $40,000. Under these circumstances and assuming Heron Corporation is an S corporation, Tonys basis in his stock investment as of January 1, 2020 is:

a. $10,000

b. $20,000

c. $50,000

d. $70,000

e. None of the above

5.- Theatre Partnership has six partners each with a different ownership interest and tax year and:

PartnerOwnershipTax Year End

Interest

A12%March 31

B28%November 30

C8%July 31

D39%March 31

E12%November 30

F1%November 30

Which of the following year ends is the Theatre Partnership required to adopt

a. December 31

b. November 30

c. July 31

d. March 31