For federal income tax purposes, all of the following statements regarding partn
ID: 2485599 • Letter: F
Question
For federal income tax purposes, all of the following statements regarding partnerships are true except A. The term partnership includes a syndicate, group, pool, joint venture, or other unincorporated organization that is carrying on a business and that may not be classified as a trust, estate, or corporation. B. A partnership is the relationship between two or more persons who join together to carry on a trade or business. C. Co-ownership of property that is maintained and leased or rented is considered a partnership if the co-owners provide no services to the tenants. D. The term "person" when used to describe a partner means an individual, a corporation, a trust, an estate, or another partnership.Explanation / Answer
Following statement is not true:
D. The term "person" when used to describe a partner means an individual, a corporation, a trust, an estate or another partnership.
=> Because a partnership and estate cannot be a partner being not a person.
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