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From tax prospective - there is no issues - you will simply include income reported on K1 with your individual tax return.From immigration prospective - there MIGHT be issues.
Generally - you are not allowed to be self-employed - and should not receive self-employment income passed to you from the partnership.
So - the first step is to confirm that NO income will be reported to you on K1 as self-employment income.
Then - if there is a business income realized by the LLC - not just investment, rental or other types of passive income - your activity related to that LLC might be questioned by immigration authorities.
So - you need to be prepared to address all these questions - and confirm that you conducted NO activity that might qualify as self-employment.
Generally - there is no "shares" - with the partnership - but you own a partnership interest which is a percentage of the partnership.
Yes - if the partnership realizes a profit or loss reporting is required to partners according to their partnership agreement.
But again - if K1 reports rental income, interest income, capital gains, etc - there would not be any issues.
But if K1 reports business income - your activity might be questioned.
For instance - if as a passive partner - you invested capital but performed NO activity related to that partnership - that is OK.
But if you actually conducted business activities and you actually a passive partner "in name only" - there might be issues which you better to avoid.
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