Partial Withdrawal Tax Reporting
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Partial Withdrawal Tax Reporting During 2003, one of our club members made a partial withdrawal of $3,500 to buy an RV. The withdrawal is shown on line 22 of the Schedule K-1...how does this person report this on their 1040? Both of us tried reading the IRS instructions and, well, we've all read those instructions. We'd just like to know how to report it correctly. John LVF Investment Club Treasurer |
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