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Business & farm
Those boxes are not usually Passive Income. Sorry.
In most cases, yes. But not necessarily. You are taxed from the K-1 for one of two reasons: (1) You receive the income, or (2) You are required to receive the income (either by law or the estate documents or will), even if you have not actually received the income.
In most cases, yes. But not necessarily. You are taxed from the K-1 for one of two reasons: (1) You receive the income, or (2) You are required to receive the income (either by law or the estate documents or will), even if you have not actually received the income.
‎June 3, 2019
5:07 PM