Solution-Arrangement be treated as a partnership for tax

Arrangement be treated as a partnership for tax purposes

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Reference no: EM13696812

Assume that two individuals, each of whom is engaged in the business of providing whale watching tours, jointly acquire a fishing vessel. Each individual uses the boat in his separate business, and neither accounts to the other for profits earned from his separate use of the boat. Under these facts, will this arrangement be treated as a partnership for tax purposes?

Reference no: EM13696812

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Arrangement be treated as a partnership for tax purposes : Assume that two individuals, each of whom is engaged in the business of providing whale watching tours, jointly acquire a fishing vessel. Each individual uses the boat in his separate business, and neither accounts to the other for profits earn..

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Arrangement be treated as a partnership for tax purposes

Reference no: EM13696812

Reference no: EM13696812

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