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AICPA CPA-Regulation Exam - Topic 3 Question 11 Discussion

Actual exam question for AICPA's CPA-Regulation exam
Question #: 11
Topic #: 3
[All CPA-Regulation Questions]

The rule limiting the allowability of passive activity losses and credits applies to:

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Suggested Answer: C

Choice 'c' is correct. The rule limiting the allowability of passive activity losses and credits applies to personal service corporations.

Choice 'a' is incorrect. The passive activity limitations apply to the various partners in the partnership as opposed to the partnership itself.

Choice 'b' is incorrect. The passive activity limitations apply to the various shareholders in the S corporation as opposed to the corporation itself.

Choice 'd' is incorrect. The passive activity rules do not apply to widely-held C corporations.


by Dominque at May 06, 2022, 10:18 PM

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Buddy
4 months ago
I disagree, I think it should include widely-held C corporations as well.
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Marget
4 months ago
Totally agree, partnerships are the main focus here.
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Malcolm
4 months ago
Wait, personal service corporations too? That's surprising!
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Truman
4 months ago
I thought it only applied to S corporations.
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Virgina
5 months ago
It's definitely applicable to partnerships.
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Leslee
5 months ago
I'm confident the answer is B, fixed ratio. That's the schedule where the subject has to complete a set number of responses to get the reinforcement, and the post-reinforcement pause is a key characteristic.
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Detra
5 months ago
Okay, let me think this through. The question is asking how to limit the number of clusters for one tenant while allowing unlimited for others. I'm leaning towards B - Restrict them through the Kubernetes Container Cluster Plugin, but I'll double-check the other options.
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