I don't know much accounting. I have a question.
All the partnership, S Corporation, LLC and LLP don't need to pay income tax directly? They "flow throw" the partnership into partner's income tax return (Form 1040)?
Why does partnership file its own separate income tax return (Form 1065)?
All the partnership, S Corporation, LLC and LLP don't need to pay income tax directly? They "flow throw" the partnership into partner's income tax return (Form 1040)?
Why does partnership file its own separate income tax return (Form 1065)?
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