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I recently started GC with EY law. I haven’t seen any case process since late august and there are a few items past due. The lawyers are not responding to my emails, does anyone know how to get a better sense of case progress and possibly to get the lawyers to speed up the process? Thanks! EY
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11zz can be any income. There should be a statement disclosing what it is. It could be passive or non passive depending on what it is. And yes generally all income would be subject to NIIT to a partner who is not materially participating. Assuming the partner is not getting guaranteed payments for services.
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Thank you. We have a reclass worksheet and it was confusing. It makes sense it’s all subject to NIIT. I just have to break out between passive and non passive. Some K1s state if it’s passive and some do not.
Unless otherwise stated, items in 11zz are usually non passive and Subject to NIIT. If it's income taxed at different rates (i.e. qualified dividends and capital gains) then you would need to reclass.