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Deductions & credits
I'm not a lawyer or a tax accountant, and I have never played one on television. However, I keep getting answers like the one below when I search the subject on the internet.
" Section 751 gain. With respect to a partnership, if section 751(a) or (b) applies, then gain or loss attributable to assets of the partnership giving rise to ordinary income under section 751(a) or (b) is considered attributable to the trades or businesses conducted by the partnership, and is taken into account for purposes of computing QBI."
I understand that everything on the internet is not always correct, but I have found multiple comments like the one above, written by various CPAs.
‎November 23, 2019
12:47 PM