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Posted by ljp26 on March 6, 2007, 5:44 am
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My husband and I are 50/50 owners of a LLC. He is a passive
owner and I am active. It is my only source of income,
while he has another job. On the K-1, line 1, I show 50%
profit for the year for each return, and no other
unreimbursed expenses. Am I required to report line 1 as
self-employeed income on line 14? If so, do I have to do
this for both returns?
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