Re: Tax questions

1. A General Partnership can choose to file an income tax return, or it can choose to be a "disregarded entity" for tax purposes and file no tax return.

2. I am in Callifornia, so my answer may be only valid for California.

3. The rest of your questions should be addressed to a qualified tax preparer.

4. There is a lesson here for other investors. It is a good idea to research the consequences of a plan before you put the plan into effect.