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Updated 10 months ago,
K-1 Partnership Tax Question
My wife and I own an LLC (Partnership) that has invested in Open Door Capital. Our partnership just received our K-1 for 2023. I realize that our partnership would need to file our 1065 for 2023, but would then the partnership issue subsequent K-1s to me and my wife, to which we would include when we file our personal taxes? Not exactly sure how this would work to make sure we are taking advantage of the loss reported for our own personal taxes.