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Get your taxes done using TurboTax
Thanks for the reply. The thing is, the income on the Schedule K-1 is the income of the LLC. So do I report that income in the K-1 section of my personal return (which I think will go to Schedule E), or should I not report it there and instead report it on Schedule C?
Or if the answer is "both", how do I make sure that I am not taxed twice on the income?
‎February 19, 2024
8:37 AM