What is the primary difference between forming a real estate endeavor as a company and forming a general partnership in real estate? In what ways does a limited partnership have some of the features of both types of organizations?

What is the primary difference between forming a real estate endeavor as a company and forming a general partnership in real estate? In what ways does a limited partnership have some of the features of both types of organizations?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation

Section: Chapter Questions

Problem 21DQ

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Question

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

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