Personal Finance (Not Investing) • K-1 question: partnership interest income taxable even if net partnership income is negative?

I'm a limited partner in a real estate LLC. My K-1 shows:

1) a -$19,419 loss in Part III Box 2 (net real estate income)
2) $4039 in interest income in Part III Box 5 (interest income)
3) a -$15,402 loss in Part I Box L (current year net income)

Is the $4039 in interest income taxable on Schedule B even though the partnership had a net loss overall?

Thank you for any help.

Statistics: Posted by jaMichael — Wed Mar 27, 2024 10:26 am — Replies 2 — Views 133

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