Rhett and Skylar are married and fil

单选题 Rhett and Skylar are married and file jointly. They operate an unincorporated business together, but they do not want to file a partnership tax return. They live in New Jersey, which is not a community property state. The business is not an LLC or any other state-law entity.What are their options?

A、 The spouses can file a single Schedule C and alternate years.

B、 One spouse can claim all the income.

C、 They are required by law to file a partnership tax return.

D、 The spouses can elect to file as a Qualified Joint Venture.

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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.

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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?

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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.

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单选题 Which form is used for a sole proprietor to make quarterly payments of self-employment tax?

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单选题 With regards to the centralized partnership audit regime (CPAR), which of the following statements is TRUE?

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A、He changes the legal name of his business and adds a second location.

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