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I have a sole proprietorship, through which I recently became a partner in a partnership. How do I report the partnership income on my 2017 tax return?
I've been reporting sole proprietorship income via the Schedule C for prior years. At the end of this year I will get a K-1 noting guaranteed payments from the partnership, in the same business name I use for my Schedule C business. Will the guaranteed payments from the partnership be reported as pass through income on the Schedule E or gross income in the business name on Schedule C?
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‎June 6, 2019
7:29 AM