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Can somebody explain to me taxes on partnership draw?

I"m getting paid on a draw, on a partnership interest, ...
...;.,,,,.....,.,,....;..,,,..
  06/21/18
ur fucked
t bone
  06/21/18
?
...;.,,,,.....,.,,....;..,,,..
  06/21/18
Your share of K-1 income is taxes as ordinary income, it's a...
Muscadine wine
  06/21/18
ok. what about business deductions? do I get to deduct exp...
...;.,,,,.....,.,,....;..,,,..
  06/21/18
If you were a solo getting a K-1 then you would deduct the e...
,.,,..,.,,.,.,:,,:,...,:::,..,.,.:...:.,:.::,.
  06/21/18
got it, thanks.
...;.,,,,.....,.,,....;..,,,..
  06/21/18


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Date: June 21st, 2018 11:44 AM
Author: ...;.,,,,.....,.,,....;..,,,..


I"m getting paid on a draw, on a partnership interest, receiving a K-1 at the end of year.

Are my individual tax rates the same as ordinary income?

Are there any extra deductions I can take, like for business expenses?



(http://www.autoadmit.com/thread.php?thread_id=4007188&forum_id=2#36284229)



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Date: June 21st, 2018 11:45 AM
Author: t bone (ggtp)

ur fucked

(http://www.autoadmit.com/thread.php?thread_id=4007188&forum_id=2#36284231)



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Date: June 21st, 2018 11:46 AM
Author: ...;.,,,,.....,.,,....;..,,,..


?

(http://www.autoadmit.com/thread.php?thread_id=4007188&forum_id=2#36284238)



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Date: June 21st, 2018 11:47 AM
Author: Muscadine wine

Your share of K-1 income is taxes as ordinary income, it's almost like a 1099

(http://www.autoadmit.com/thread.php?thread_id=4007188&forum_id=2#36284250)



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Date: June 21st, 2018 11:50 AM
Author: ...;.,,,,.....,.,,....;..,,,..


ok. what about business deductions? do I get to deduct expenses like laptop, travel, etc?

(http://www.autoadmit.com/thread.php?thread_id=4007188&forum_id=2#36284277)



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Date: June 21st, 2018 11:51 AM
Author: ,.,,..,.,,.,.,:,,:,...,:::,..,.,.:...:.,:.::,.


If you were a solo getting a K-1 then you would deduct the expenses in your business return. It would lower your K-1 income. When you are in a partnership I'm not sure how it worked, probably depends how its structured. But possible the partnership deducts expenses on its business return so you cant take them

(http://www.autoadmit.com/thread.php?thread_id=4007188&forum_id=2#36284295)



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Date: June 21st, 2018 11:53 AM
Author: ...;.,,,,.....,.,,....;..,,,..


got it, thanks.

(http://www.autoadmit.com/thread.php?thread_id=4007188&forum_id=2#36284313)