Re: How do I report nominee interest income received and paid to a third party on a partnership return?

harveyburger · ‎07-19-2020

George4Tacks · ‎07-20-2020

Use Schedule K - Interest Income - Investment Expense.

Answers are easy. Questions are hard!

sjrcpa · ‎07-20-2020

I'm leery of the investment expense route. If partners are individuals they cannot deduct investment expenses.

The more I know the more I don’t know.

Anonymous · ‎07-22-2020

If the interest had been received in the ordinary course, is there anything wrong with a zeroed-out entry on Line 7 and an attached statement delineating the total interest received and actual recipient's share (assuming the latter is the total received)?