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2005 1065 K-1 Line 11 code A

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The partnership will report portfolio income other than interest, ordinary dividend, royalty, and capital gain (loss) income. It will attach a statement to tell you what kind of portfolio income is reported.

If the partnership has a residual interest in a real estate mortgage investment conduit (REMIC), it will report on the statement your share of REMIC taxable income (net loss) that you report on Schedule E (Form 1040),line 38, column (d). The statement will also report your share of any “excess inclusion” that you report on Schedule E, line 38, column (c), and your share of section 212 expenses that you report on Schedule E, line 38, column (e). If you itemize your deductions on Schedule A (Form 1040), youmay also deduct these section 212 expenses as a miscellaneous deduction subject to the 2% limit on Schedule A, line 22.

2005 1065 K-1 instructions

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