The interest expense shows up on the partnership form 1065 on line 15 as a deduction from partnership income. The partnership should issue you a form 1099-INT that you can use to report the interest income on your personal tax return. You can issue the 1099 form through the TurboTax Business program, by using the link to QuickEmployer Forms you will see in the Business Info section of TurboTax.
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