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Who pays the tax in a partnership 2024?

Daniel Rodriguez | 2023-05-08 00:39:35 | page views：1295
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Zoe Patel

Studied at the University of Oxford, Lives in Oxford, UK.
Though a partnership doesn't pay taxes on its profits, it does declare its operating losses and profits to the IRS in Form 1065. The partnership must also send Form K-1 to owners that states profits/losses allocated to each partner (the K-1 is reported on line 17 of your personal tax return 1040).
2023-05-14 00:39:35
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Lucas Lee

QuesHub.com delivers expert answers and knowledge to you.
Though a partnership doesn't pay taxes on its profits, it does declare its operating losses and profits to the IRS in Form 1065. The partnership must also send Form K-1 to owners that states profits/losses allocated to each partner (the K-1 is reported on line 17 of your personal tax return 1040).
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