MiriamF
Intuit Alumni

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</...>