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2005 1065 K-1 Line 4

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Generally, amounts on this line are not passive income, and you should report them on Schedule E (Form 1040), line 28, column

(j) (for example, guaranteed payments for personal services). Portfolio Income

Portfolio income or loss (shown in boxes 5 through 9b and in box 11, code A) is not subject to the passive activity limitations. Portfolio income includes income not derived in the ordinary course of a trade or business from interest, ordinary dividends, annuities, or royalties and gain or loss on the sale of property that produces such income or is held for investment.

2005 1065 K-1 instructions

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