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Concerning the test for a partner’s Interest in a partnership, which of the following statements is...

Concerning the test for a partner’s Interest in a partnership, which of the following statements is true

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Answer #1

Concerning the test for a partner's interest in a partnership, which of the following statements is true? A) a plain vanilla partnership generally will satisfy this test, B) The regulations require that each partner be treated as an equal in any situation, C) The tax matters partner is responsible for this determination, D) This test can be more objective than the economic effect test.

Answer:-

option (A) is correct

A plain vanilla partnership satisfies the test for a partner's intrigue in the partnership.

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