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Business & farm
Hopefully this thread is "active." Similar situation to the answer you gave. I received a K-1 that listed business income, although I never received the income. Called one of my partners and he said the income was my percentage of the business money that is in the bank, and I have to pay the tax on my share. Sounded kind of funny, I trust him, is this true? Thank you.
ā€ˇFebruary 14, 2022
12:20 PM