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2005 1065 K-1 Line 20 code P

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Unrelated business taxable income. The partnership will report any information you need to figure unrelated business taxable income under section 512(a)(1) (but excluding any modifications required by paragraphs (8) through (15) of section 512(b)) for a partner that is a tax-exempt organization.

Note. A partner is required to notify the partnership of its tax-exempt status.

2005 1065 K-1 instructions

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