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Retirement tax questions
Seed money "loaned" to a partnership and the subsequent repayment is NOT entered on a form 1065 as income or an expense. This will be reflected in the books and in the basis calculation on the K-1 form. If you do not understand these terms or do not have your books set up properly I highly recommend you seek local professional assistance.
‎December 5, 2022
5:25 PM