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Passive Income

taxmeplease taxmeplease is offline

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Join Date: Sep 2010

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10-05-2010, 08:37 PM

Hi, If there is interest income (box 5) on a K-1 of a limited partnership,
is this income passive? do I just add it to the passive income from ordinary business (box 1)?

Also, if there is short-term capital loss (box 8) of the K-1 limited partnership, can I use that to offset capital gains from sell of stock? or is that also considered a passive loss?

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