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Updated about 12 years ago on . Most recent reply

User Stats

25
Posts
5
Votes
Richard Z.
  • Investor
  • Los Gatos, CA
5
Votes |
25
Posts

Passive income for passive partners of flipping project

Richard Z.
  • Investor
  • Los Gatos, CA
Posted

Its LLC entity, will issue K-1 for each partners.

Passive income for passive partners - Should it be categorized as ordinary income just as the active partner, or should be short term capital gain? The project is a flipping project.

Thanks,

Richard

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