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I have a single-member LLC that received K-1 from one of its investments. In TurboTax, where do I report the business income, interest and capital gains from the K-1?
My single-member LLC owns a 1/3 interest in a partnership. That partnership sent a K-1 to the LLC.
Should I report the K-1 as if I received it directly from the partnership (skipping over my LLC)?
Or should I report the various boxes of the K-1 in the "General Business Income" section of TurboTax? There really isn't a one-to-one match between those K-1 boxes and the TurboTax forms (business income/loss, interest income, capital gain/loss, self-employment income, etc)...
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‎June 5, 2019
4:18 PM