Pick the Business Structure Tax Lens

Sort each clue into the tax lens it most strongly points to. Sole proprietorship Partnership S corporation C corporation One owner reports business profit directly on the individual return Schedule C activity with no separate entity return Two owners share profits and receive K-1s from a pass-through return Form 1065 partnership return prepares owner K-1s Shareholder-employee salary plus pass-through K-1 income Corporation has made an eligible S election for pass-through treatment Entity pays corporate income tax on its own return After-tax corporate earnings may be taxed again when distributed as dividends

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