2018 UltraTax CS
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Form NYC-204, Page 3, Schedule C is to be completed if the partnership has net income. If the partnership shows a net loss, the form will display a 0 (zero). Also, if the partnership has all Real Estate Rental income, that income is exempt and therefore, net income is zero.
Note: The supporting schedule for this section is now a worksheet. If a partner has a loss, they will be listed with "0".
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