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Business & farm
OK ... the Partnership recieved the K-1 form so it is reported on the Partnership return and then that partnership will issue it's own K-1 form to the partners. A partnership is a pass thru entity so the income goes on the partnership return and gets passed thru to the partners. You do NOT simply pass that received K-1 on to the partners ... it doesn't belong to them.
‎September 18, 2022
10:57 AM