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Investors & landlords
It sounds like you need to take some of your gains to offset the expenses of the club. As a partnership, you can agree to do that - use your income to pay the bills. It's just not something you can do at tax time on a tax return. Even though you are an active partner, these still count as passive losses. See. <a rel="nofollow" target="_blank" href="https://taxmap.ntis.gov/taxmap/pubs/p550-011.htm">https://taxmap.ntis.gov/taxmap/pubs/p550-011.htm</...>
‎June 6, 2019
5:22 AM