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2005 1065 K-1 Line 20 code M

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The partnership will report your nonqualified withdrawals by the partnership from a capital construction fund (CCF). These withdrawals are taxed separately from your other gross income at the highest marginal ordinary income or capital gains tax rate. Attach a statement to your federal income tax return to show your computation of both the tax and interest for a nonqualified withdrawal. Include the tax and interest on Form 1040, line 63. To the left of line 63, write the amount of tax and interest and“CCF”

2005 1065 K-1 instructions

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