Which of the following is true regarding a restricted capi al interest given to a service partner? If no election is made, the income is reported by the service partner either when the restrictions are removed or when the capital interest is offered. A service partner who receives a restricted capital interest can elect to be taxed when the restrictions lapse rather than pay the tax currently. If a service partner elects to be taxed currently, an offsetting deduction is allowed if the interest is subsequently forfeited before receiving it. If a service partner elects to be taxed currentlythe amount of includable income is the expected value of the interest on the date the restrictions lapse. None of the above are correct