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hi im mark for etacs.com to report the income or loss from a form k1 depends on whether the business had a gain or loss and whether or not the earnings were derived from passive investment or active participation in the company in most cases pass-through income or loss from a partnership llc or s-corporation goes on schedule e line 28 however if the earnings were paid in the form of dividends or interest then you report them on schedule b capital gains or losses are reported on schedule d for more information visit etax.com