The partner (rather than the partnership) will make which one of the following elections?
a. Election to claim straight line depreciation.
b. Election to claim a credit or deduction for foreign taxes paid.
c. Election to claim a low-income housing credit.
d. Election to claim a §179 deduction for certain property placed in service during the year.
e. The partner makes any of the above elections.
b
RATIONALE: The partnership makes all except for three elections related to partnership accounting methods. One of the partner-level elections is whether to claim a tax credit or a deduction for foreign taxes paid (answer b. is correct.). The partnership makes deductions related to depreciation and § 179 deductions (answers a. and d.), and it calculates other tax credits, such as the low-income housing credit (answer c.) and allocates the amounts to the partners.
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