True or False / Multiple Choice _______ 1. A corporation formed under the NYS Business Corporation Law

can file Form 8832 and elect partnership status.

_______ 2. One advantage of the corporate Form of Organization is the ability to include corporate level debt in basis.

_______ 3. Contributions of appreciated property to both Corporations and Partnerships require at least 80% control to be tax free to the contributor.

_______ 4. A formal dissolution is required in order for a Corporation to be liquidated for tax purposes.