单选题 If an LLC is owned by a single individual, and the taxpayer does not file an entity classification with the IRS, how will the business be taxed?
A、As a corporation.
B、As an exempt entity.
C、As a sole proprietorship.
D、As a partnership.
单选题 With regards to the centralized partnership audit regime (CPAR), which of the following statements is TRUE?
A、Unless the partnership makes a valid “opt out” election, the CPAR audit procedures will apply.
B、Only partnerships that have more than 100 partners are subject to the centralized partnership audit regime.
C、Electing out of CPAR is automatic when a partnership has fewer than 100 partners.
D、The IRS does not subject small partnerships to the centralized partnership audit regime.
单选题 Superior Farms is taxed as a partnership. The business has four equal partners, some of which are entities. The partnership wants to opt-out of the Centralized Partnership Audit Regime (CPAR). Which of the following partners would prevent Superior Farms from electing out of CPAR?
A、Grimmway Corporation, a C corporation.
B、Thomas, who owns his partnership interest through a revocable grantor trust.
C、Henrietta Smith, an individual who holds her partnership interest directly.
D、The Bill Jones Estate, an estate of a recently-deceased partner.
单选题 Anthony is a sole-proprietor who reports his income and loss on Schedule C. This year, he plans to expand his business. In which of the following scenarios would he NOT be required to obtain a new EIN?
A、He changes the legal name of his business and adds a second location.
B、He takes in business partners and operates as a partnership.
C、He decides to incorporate.
D、None of the scenarios listed above would require a new EIN.
单选题 If a multi-member LLC is owned jointly by a married couple, and the taxpayers do not live in a community property state, what is the default entity classification for the business?
A、Partnership.
B、S corporation
C、Marital trust
D、Sole proprietorship
单选题 Which form is used by a sole proprietor to calculate self-employment tax?
A、Schedule A
B、Schedule SE
C、Schedule F
D、Schedule C
单选题 Family members can be partners in a partnership. However, to be recognized as a bona-fide partnership, family members must meet all of the following requirements except:
A、A bona fide transaction cannot involve a gift from another family member.
B、If capital is not a material income-producing factor; the family members must have joined together in good faith to conduct a business.
C、If capital is a material income-producing factor, the family members must have acquired their capital interests in a bona fide transaction.
D、If capital is not a material income-producing factor, family members must have agreed that contributions of each entitles them to a share in the profits and that some capital or service is provided by each member.
单选题 Which form is used for a sole proprietor to make quarterly payments of self-employment tax?
A、Form 1040-ES
B、Form 941.
C、Schedule SE.
D、Form 1099-MISC.
2026-02-25
共804道
