Generally, the partner's share of profit/losses or capital percentages are entered in the Form 1065 when preparing the partnership return. Only the K-1 items of income and expense are entered on form 1040.
Generally, the partner's share of profit/losses or capital percentages are entered in the Form 1065 when preparing the partnership return. Only the K-1 items of income and expense are entered on form 1040.
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