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how do business expenses get reported in limited partnership to offset stock gains?
I have $1000 in stock gains and $950 in business expenses in a limited partnership, using turbo tax business, the form 1065 does not show my $1000 in income from the stock gains, only the business expenses, so the form 8453-PE shows I have a -$950 loss for the year. How does the expense get allocated to each partner to offset the income?
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‎April 18, 2022
10:07 AM