Our Videos

FAQ / What percentage interest in Partnership A’s profit, loss or capital is to be reported on Form 1065 Schedule B question 3a and 3b, under the following facts?


S corporations X and Y each own 50 percent of the profit, loss, and capital of partnership A. Jane owns 50% of X’s stock, and her brother Bill owns 50% of Y’s stock. Bill also owns 100 percent of a third S corporation, Z.

A11: In response to question 3a, Partnership A reports that corporations X and Y each own directly or indirectly, 50 percent of Partnership A’s profit, loss, or capital.

In response to question 3b, Partnership A reports that Jane and Bill each own, directly or indirectly, 50 percent of the partnership’s profit, loss, or capital. Both Jane and Bill, respectively, are considered to own 25% through their respective corporations. In addition, each is considered to own an additional 25% by family attribution, for a total of 50% each.

Partnership A does not report with respect to Corporation Z because Z is not a direct or indirect partner of A.

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

How long is my passport valid?
Read More »
What is the difference between a Divorce Certificate and a Divorce Decree?
Read More »
How do I obtain my professional license?
Read More »
What is the application process for the 17-month STEM extension?
Read More »






News

June 26, 25
Jefferson Davis Hospital birth certificate errors persist; causing headaches for many
Read More »
June 19, 25
Iowa man whose body was found after home explosion died of suicide – death certificate
Read More »
June 19, 25
Cruise line passenger allegedly posed as US citizen by using fake birth certificate and ID
Read More »
June 17, 25
IRS warns American to pre-pay taxes
Read More »