Separately stated items are tax items that are treated similarly for tax purposes as a shareholder's share of ordinary business income (loss).

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Separately stated items are specifically identified on a partnership or S corporation tax return because they may affect the tax liability of an individual partner or shareholder differently, depending on their own tax situation, unlike ordinary business income (loss) which is generally treated the same for all partners or shareholders.

Separately Stated Items Are Tax Items That Are Treated Similarly