Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
As a partner you may or may not be responsible for SE/Medicare taxes depending on the nature of your earnings from the partnership, but you seem to ralize this and suggest you do NOT actively participate. That is, the partnership generates passive income such as from stocks and investments rather than a going business, like a grocery store or production from oil wells. So:

If you ARE required to pay SE/Medicare taxes, yes they are paid along with your ES quarterly installments. If you ARE NOT subject to SE taxes, why did you ask?

Only you know if this is earned income or "ordinary income". ed
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.