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M
mckinly16
February 11, 2025
Question

If I was a business partner in a network marketing company but didn’t earn any money in 2024 and also officially ended my partnership April 2024, do I delete the job?

  • February 11, 2025
  • 1 reply
  • 0 views
Is it better to leave it on this years return since I was still a business partner until April and put $0 income/expenses?

    1 reply

    L
    LeticiaF1
    February 11, 2025

    Since you were a partner in the business up to April 2024, you should still receive a Schedule K1 from the partnership this year. You will need to report this schedule on your return.  

    What is a Schedule K-1 Tax Form?

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