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Jim Revels
Jim Revels, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 210
Experience:  Providing income tax / planning services for over 16 years on all entity and individual tax issues
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Schedule K -Form 1065----- Box !9 Distributions

Resolved Question:

Schedule K -Form 1065----- Box !9 Distributions Line A--- Where do I enter the $ ?     I am guessing that it is Sched 4952 lne 4a.
Submitted: 9 years ago.
Category: Tax
Expert:  Jim Revels replied 9 years ago.

Thank you for choosing Just answer. To the extent the distributions do not exceed your basis in the partnership they are not reportable, the distributions just reduce your basis. To the extent they are in excess of basis they are deemed to be ordinary income. And should be reported on Schedule E or line 21 of form 1040 with a note distributions in excess of basis.


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