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Nate is a partner in a partnership that received $5000 of interest income this year. Nate's share of the interest is $1000, and he should
Nate is a partner in a partnership that received $5000 of interest income this year. Nate's share of the interest is $1000, and he should report this income on his individual return as:
a) business income
b) income from a partnership
c) interest income
d) dividend income because the partnership intends to organize next year as a limited liability company.
e) none of the choices are correct.
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