Our Videos

FAQ / For purposes of completing its 2008 Form 1065 Schedule B, questions 3 and 4, what percentage interest in profit, loss, or capital should Partnership P report for individual partners A and B, and corpo


A and B each directly owns 50% of P’s profit, loss, and capital.
A and B also each owns directly 50% of the stock in corporation Y.

Do the attribution rules of section 267(c) and A and B’s common control of both partnership P and corporation Y result in P being deemed to indirectly own corporation Y? What must partnership P report as its percentage ownership of corporation Y on Schedule B question 4a?

A12: For purposes of Schedule B, questions 3 and 4, partnership P reports that A and B each own, directly or indirectly, 50 percent of the profit, loss, or capital of partnership P in answering Schedule B, question 3b.

Because corporation Y is not a partner in partnership P, P does not report an ownership interest in Y in response to question 3a. Y is neither a direct nor an indirect partner in P.

Partnership P does not report an interest in corporation Y in answering question 4a. P is not considered to indirectly own an interest in Y under section 267(c), even though A and B control both P and Y.

Keywords: corporation,
 




Testimonials

John Beacleay

Just wanted to say thanks again for all your help Anton. I mean it's really amazing to me that yo...
Read More »
Niranjan Sujay
I recently used LOGOS INTERNATIONAL for the translation of my bachelor’s certificate, and I couldn’t...
Read More »
Katia Nagata

As a foreigner, I needed a certified translation, so I called the DOE to give me a list of the ce...
Read More »
AnnaMaria Realbuto
Thank you for all your assistance and efficiency...
Read More »




FAQ

My fiance (fiancee) came to the United States on a K-1 Fiance (e) visa. Can he/she legally work here?
Read More »
What are the laws regarding the Great Seal of the U.S.?
Read More »
Can I file bankruptcy in state court?
Read More »
How Much Chilean Sea Bass Does the U.S. Import?
Read More »






News

July 14, 25
YouTube star obtains fake death certificate to get airline refund
Read More »
July 9, 25
Actor Michael Madsen died from heart failure-death certificate
Read More »
July 7, 25
US deports Asian and Latin American men with criminal records to South Sudan
Read More »
July 3, 25
TX woman arrested after convincing pastor to certify fake marriage certificate
Read More »