Which one is correct?
Does your business partner taking advantage of you?
Is your business partner taking advantage of you?
For me they seemed correct but I'm not familiar with the English rules for 'does' and 'is' when asking question.
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The difference between Does ... take and Is ... taking is exactly the same as the difference between He takes and He is taking: the difference between the "simple present" and the "continuous". (Does ... taking is not grammatical, as others have pointed out).
For most verbs, the "simple present" is used only in a timeless or habitual sense, and for something which is happening precisely at the moment, the "present continuous" is normal.
So Does your business partner take advantage of you? is a question about your partner's behaviour habitually or over a long period: the answer could be "Yes" even if right now your partner is taking good care of your interests.
Is your business partner taking advantage of you? is a question about what they are doing right now.
When a sentence does not have an auxiliary verb (helping verb) like
be, do, have, will, shall, would, should, can, could, may, might, must, ought. Then, you need to use
do to form the question.
In your case, the correct sentence will be :
Is your business partner taking advantage of you ?.
Note : For the verb
be, is or are as question words.
Which one is correct?
Note I have edited taking to take in the first sentence.
As Jason quite correctly points out now that the sentence has been edited both are correct and It's a matter of personal preference which you use. However, there is a difference between the sentences. Not in meaning but in emphasis.
Using "does" (do) adds emphasis to the question.
Do shut up, Georgia, and get on with your homework.
Do write and let me know how you're getting on.
do; auxiliary verb (FOR EMPHASIS); Cambridge English Dictionary [+ infinitive without to] used to give extra force to the main verb:
This is also the reason for my edit with do (does) we use "take" the infinitive form of the verb
The infinitive form of a verb. That is, the verb in its basic form. It is the version of the verb which will appear in the dictionary. Grammar