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S
SL2020
Level 2
August 15, 2020
Question

Partnership K1

  • August 15, 2020
  • 2 replies
  • 20 views

How does taxable income flow to Partnership K1, schedule L for 2019

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2 replies

abctax55
abctax55
Level 15
August 15, 2020

Same way it did for 2018?

Net income adjusts Line 21, on Sch L.

HumanKind... Be Both
    S
    SL2020Author
    Level 2
    August 17, 2020

    Let me be more clear;   Why is book income flowing through to Schedule L on the K1 when it should be taxable income?   Please note that tax basis capital account accounting method is checked on the information worksheet.

    Thank you

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