How complicated or simple is a K-1 form?

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It could vary. It would really depend on the partnership and the underlying activity of the partnership. If the partnership is an operating company that provides goods and services and has wages and expenses, then the K-1 is very complicated with lots of different information being presented. 

If the partnership is relatively passive, such as an investment company, the K-1 could be relatively simple and might just show dividends earned during the year or rents collected during the year.

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