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NORTH CAROLINA REAL ESTATE COMMISSION FINANCIAL STATEMENTS YEARS ENDED JUNE 30, 2017, AND 2016NORTH CAROLINA REAL ESTATE COMMISSION Table of Contents Page No. Management\'s Discussion and Analysis
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Proportionate share of net refers to the individual's percentage of income, deductions, and credits from a partnership or S corporation.
Individuals who are partners in a partnership or shareholders in an S corporation are required to file proportionate share of net.
Proportionate share of net can be filled out by using Schedule K-1 (Form 1065) for partnerships or Schedule K-1 (Form 1120S) for S corporations.
The purpose of proportionate share of net is to report the individual's share of income, deductions, and credits from a partnership or S corporation for tax purposes.
On proportionate share of net, individuals must report their share of income, deductions, and credits from a partnership or S corporation.
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