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Here is what we are doing for our trade business, where per the IRS we can deduct tips. For what it's worth!!!- On the 1065, line 1, show your total gross recei...
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This is false. Our trade is included as one that allows the deduction of tips, and we are doing it through the K-1s and taking the deduction there. Having a W2 ...
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I believe you are incorrect. Many of the trades who are "sole proprieters" use a 1065 and pass income through to partners (often husband and wife) through the K...
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This is incorrect. 1065's have nothing to do with W2s. Many self employed people, ma and pa businesses, use a 1065 as a way of reporting their business income.
