On my K-1 Line 11 Other Income (loss) code F it states "PS 58 - Income - Insurance Policy" with a dollar amount of $132.00. This is at risk non-passive stock buyout partnership. Do I have to claim this as income on my Schedule E?
I believe this represents the cost of life insurance in excess of $50K. That makes it taxable to you. This is no different then the cost included in an employee's wages for the excess insurance.
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