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February 18, 2025
Question

Partnership buyin

  • February 18, 2025
  • 1 reply
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I had to pay a buy in fee for my partnership position with my current company I work for. Am I able to claim that for a deduction on my taxes?

1 reply

February 18, 2025

No, that is an investment like buying a stock  It is your starting tax basis in the partnership and should show up in schedule L on the K-1 you receive for 2024 (assuming buyin was in 2024)