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Sure, I need the authority or citation that an S corporation…

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I need the authority...

I need the authority or citation that an S corporation can own all or part of a partnership

Submitted: 8 months ago.Category: Tax
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Answered in 9 hours by:
9/16/2017
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 8 months ago
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,037
Experience: 35 years tax experience, including four years at a Big 4 firm.
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Hi from Just Answer. I'mCustomer and can assist.

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Tax Professional: PDtax, Certified Public Accountant (CPA) replied 8 months ago

IRC section 7701 defined 'person' in this context, as only persons can be partners in a partnership. S and C corporations are specifically mentioned as qualifying 'persons'.

Glad to help with your partnership question. Thanks for asking at just answer. Positive feedback is appreciated. I'mCustomer

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Tax Professional: PDtax, Certified Public Accountant (CPA) replied 8 months ago

Oh, one more thing. It can own all of a partnership. A partnership requires two or more persons as owners.

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