I earned interest on money held in a partnership. How should I report this?

 
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Posted On : 26th Nov 2010

I earned interest on money held in a partnership. How should I report this?

Money that you made in a partnership will most likely be reported to you using a K-1 form. There is a special line on this form for interest income. The interest should be reported along with other interest income separate from the rest of the partnership income.

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