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More income on the Schedule K-1 means more income that you have to report. More income can equate to more taxes. If you need to show more income to get a loan or something, than the more income is a good thing. Otherwise, I would say not a good thing because you may have to pay more taxes.
Let me know if I can be of further assistance to you regarding this matter.
Is there a particular reason why the income is more this year than in a previous year? Did something change? Might be a red flag. You might want to look into that to see why the amount is higher than the previous year.