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Partnership Buy-in Offset Income?

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NicoleJS
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Partnership Buy-in Offset Income?  Reply with quote  

I will be buying into a physician practice partnership for a flat fee and this will then become my only source of income. If I were to buy-in during the same tax year in which I start making money with the partnership, does the buy-in offset my income for that year? My LLC will be the one making the money, but I am not a S or C Corp.

Thanks!
Post Wed Aug 17, 2016 1:56 am
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Luxion
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No, the buy-in will not offset your share of the partnership's income.
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Last edited by Luxion on Fri Aug 26, 2016 4:49 am; edited 2 times in total
Post Wed Aug 17, 2016 8:16 am
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adamjohnson
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Assuming you'll be a partner in this partnership, what do you gain by forming an LLC?

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Post Thu Aug 18, 2016 4:05 am
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