laurab1
New Member

My LLC purchased a promissory note in 2017. Where do I report the expense on form 1065?

My LLC does business investing in securities, financial instruments, real estate and consulting services.  This year the LLC made most of its income from consulting fees.  However it purchased a sizable interest in a promissory note.  I understand where to report the gross income but do not know where to report the expense of purchasing the promissory note on form 1065