S-corporations must allocate their income to each shareholder on a strictly pro rata, per day basis. Is this also true with respect to partnerships? How do partnerships allocate income, deduction, loss, and credit items to partners?© BrainMass Inc. brainmass.com June 4, 2020, 1:57 am ad1c9bdddf
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Income and losses are allocated to each of the partners based on the profit and ...
The solution discusses howpartnerships allocate income, deduction, loss, and credit items to partners.