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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Private Activity Bond Interest and partnership Date: 3/5/2013 9:31 AM
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I have a partnership which received some tax-exempt dividends which derive from Private Activity bonds. This income is taxable under AMT rules.

My question is where do I report this on the 1065 and associated K-1s? I would have expected it to go on either Line 17 or Line 20 with an appropriate code, but I can't find one in the instructions. I can't imagine that PAB interest is "ignored" if it passes through a partnership.

What am I missing?

Ira
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Author: Wradical Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 117963 of 121061
Subject: Re: Private Activity Bond Interest and partnersh Date: 3/5/2013 11:42 AM
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I'd use Box 17, Code F "Other AMT items", and maybe use a descriptive footnote, steering the partners to the right line of Form 6251 if your software lets you do that.

Bill

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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 117964 of 121061
Subject: Re: Private Activity Bond Interest and partnersh Date: 3/5/2013 12:27 PM
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I'd use Box 17, Code F "Other AMT items", and maybe use a descriptive footnote, steering the partners to the right line of Form 6251 if your software lets you do that.

Thanks. Bill. I realized after I posted the question that that was the answer. It was one of those "can't see the forest for the trees" things. I looked at the instructions expecting to see private activity bonds explicitly listed and when I didn't see them, I went blank.

Ira

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