Choice "d" is correct. Most elections that affect the calculation of taxable income of a partnership are made by the partnership itself rather than by an individual partner. For example, the elections as to methods of accounting, methods of depreciation and the Section 179 expensing of a limited amount of depreciable property, the election not to use installment method accounting, and similar elections are made by the partnership and apply to all partners. However, individual partners can make the election to take a deduction or a credit for taxes paid to foreign countries.

Choice "b" is incorrect. The election to amortize organizational costs is made at the partnership level, not at the partner level.

Choice "a" is incorrect. The election not to recognize involuntary conversion gains is made at the partnership level, not at the partner level.

Choice "c" is incorrect. The election to expense Section 179 property is made at the partnership level, not at the partner level.