![]() vs partnershipįorm 1065 for partnerships corp. losses may be claimed only to extent of investor's basis in shares no more than 100 shareholders, none of whom may be a nonresident alien, or more than one class of stock multiple member LLC form 1065, march 15th S Corporation - profits and losses pass through directly to shareholders in proportion to their ownership in the S corporation single member LLC, form schedule c April 15th objectives and financial constraints of the individual members must be considered form 1065, march 15th LLC - combines benefits of incorporation with tax advantages of flow through of taxable earnings or losses Investment policy considers combined / collective objectives of all the partners business profits and losses flow directly through the investors for tax purposes, avoiding double taxation of profits at the business and individual levels NOT suited for raising large sums of capital Form Schedule C, file April 15th General Partnership - unincorporated association consisting of two or more individuals all income or loss is that of the individual TERMS IN THIS SET (9) Sole Proprietorship - simplest form treated like an individual account
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