As a 50/50 partnership, I would expect that you would report 50% of the partnership's income on your personal income tax return.
This TurboTax Help states:
The partners report their proportionate share of the partnership’s income, losses, deductions, and credits on their own personal income tax returns. As a result, the business’s net income is ultimately taxed at each individual partner’s tax rate.
Do you have a partnership agreement that outlines how income, losses and partnership tax attributes are allocated between the partners?
Is the preparer of the partnership tax return helpful in explaining the partnership agreement to you?
Do you have access to an attorney or tax professional who can explain the partnership agreement to you?
What do you mean when you say I am removing myself? Please clarify.
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