Question
Which is true? A) A cash distribution of an LLCs income to its members is generally tax-free to them and to the LLC. B) Only
Which is true?
A) A cash distribution of an LLCs income to its members is generally tax-free to them and to the LLC.
B) Only cash distributions from a partnership are taxable to partners.
C) Cash distributions exceeding a partner's basis in the partnership interest are taxable to the partner and to the partnership as ordinary income.
D) All are true.
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Accounting What The Numbers Mean
Authors: David Marshall, Wayne McManus, Daniel Viele
8th Edition
0073379417, 978-0073379418
