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Should my Net income be under "General partner or limited partner" and "active or passive" on the Analysis of Net Income?

Me and my husband are the only 2 member-managers of our LLC for a rental property. Our K-1 is correct, it has General partner or LLC member-manager check marked.  I am confused because on the Analysis of Net Income, it put our income under "Limited Partner Active"?

Shouldn't it be under General Partner Active?

I am also confused on if we are active or passive?  We do not work more than 100 hours a year on the rental therefore, do not pass the "Active test", but we are the only 2 managing members of the LLC and have noone else involved in the business.  We take care of everything.

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3 Replies

Should my Net income be under "General partner or limited partner" and "active or passive" on the Analysis of Net Income?

Duplicate post.  See response in Business section.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.

Should my Net income be under "General partner or limited partner" and "active or passive" on the Analysis of Net Income?

I’m confused? I’m just asking for advice. I wasn’t sure which forum to post in.

Should my Net income be under "General partner or limited partner" and "active or passive" on the Analysis of Net Income?

You posted in two places.  It appears you found the response in the other post.

https://ttlc.intuit.com/community/business-taxes/discussion/why-does-it-put-our-income-under-limited...

 

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
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