Level 2
The venture is a loan for equipment to be repaid to my client in 4 yrs. Should this venture be a partnership with treatment for taxes, but not really a partnership? It is called a Joint Venture, a special partnership. My client receives a 25% ownership in business, no liability for expenses. Does anyone know where to put the income (25% of profits)? Should this be a 1065 or a Sch. C or just Line 21 on 1040?
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