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I have a client that received a K-1 for partnership. On
I have a client that received a K-1 for partnership. On schedule E there is a block to check if there is a loss on K-1. If so, it reads attach the required computation. If have never seen this before … read more
emc011075
emc011075
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I have a client that received a K-1 from a 1065. Part III
Good Afternoon. I have a client that received a K-1 from a 1065. Part III box 19 (distributions) Code A-Cash and marketable securities for $363,895.00. This does not show up as any kind of income.Is t… read more
Lev
Lev
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Bachelor's Degree Equivalent
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K-1 for partner who died 2 years ago... I am preparing an
K-1 for partner who died 2 years ago... I am preparing an overdue Form 1065, and learned that one of the three partners died 2 years ago, and his estate has been closed out. It is not yet clear who in… read more
Lev
Lev
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I just e-filed my 1065 for my partnership and then noticed
I just e-filed my 1065 for my partnership and then noticed that both partners were accidentally selected as "limited" partners on the K-1, while they both should be general partners. What should I do … read more
Lev
Lev
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My partner and I started an LLC in 2009. Over the years we
My partner and I started an LLC in 2009. Over the years we have both put in over $2000 in our own funds to pay for website hosting and parts and instruments for use in developing new products. These f… read more
Lev
Lev
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I have a partnership that has given a donation to a State
I have a partnership that has given a donation to a State Program. This is not a deduction for the federal but they will get credit for it on their state taxes. I think I will put it as a withdrawal s… read more
Lev
Lev
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In 2016 i had a K1 partnership that had 25k loss. This was
In 2016 i had a K1 partnership that had 25k loss. This was the entire amount of my investment in the partnership and was listed as an income loss, not a capital loss. the ratio is listed as 1 and in w… read more
Dr. Fiona Chen
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I have a small hedge fund which unfortunately went to zero
I have a small hedge fund which unfortunately went to zero this year, due to a what I would call "reckless" trader. Each investor lost everything in their capital account. Which includes their initial… read more
Lev
Lev
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Bachelor's Degree Equivalent
41,360 satisfied customers
I have a partnership where one partner simply walked away
I have a partnership where one partner simply walked away and transferred his % to the remaining partner. No cash traded hands and the partner has a negative capital account. closed rental business. h… read more
Lev
Lev
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Bachelor's Degree Equivalent
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Taxpayer invested in two partnerships totaling $70,000.00.
Taxpayer invested in two partnerships totaling $70,000.00. K-1's received for a number of years showing zero income and expenses. Taxpayer receives each K-1 showing $70,000.00 invested and no adjustme… read more
Lev
Lev
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I have a start up business that does not have any income,
I have a start up business that does not have any income, but TODAY, my investor said i needed to provide him and our 2 other partners a K1 by Thursday...After his call I got online and discovered the… read more
Lane
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Doctoral Degree
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I WANT TO KEEP TRACK OF MY COST BASES UNITS ON A YEARLY
I WANT TO KEEP TRACK OF MY COST BASES FOR MLP UNITS ON A YEARLY BASES. I'VE READ SEVERELY ARTICLES AND I'M SURE ABOUT ALL THE FACTORS THAT HAVE TO BE CONSIDERED. IT SOUNDS AS IF ALL THE INFORMATION IS… read more
Lev
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Partnership accounting, taxation and capital accts
Partnership accounting, taxation and capital accts question.........We have a 2 person general partnership each with a $1mm capital account. The asset is a building and there is no debt. On 6/1 a new … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I own a partnership with three partners, if one of the
I own a partnership with three partners, if one of the partners had filed his personal tax return indicating on the K-1 that it is final does this mean that this member had voluntarily resigned? The p… read more
Lev
Lev
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I am one of two Members of a California LLC (taxed as a partnership)
I am one of two Members of a California LLC (taxed as a partnership) that opened a SIMPLE IRA account in 2013. The two Members made contributions last year, and we are now trying to figure out how to … read more
Anne
Anne
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I am preparing a 1065 - Among 6 of the members , I need help
I am preparing a 1065 - Among 6 of the members , I need help with 2 of the members -2 couples have their ownership and MR & Mrs as tenants by the entirety. I know that each spouse of both couples will… read more
Lev
Lev
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Bachelor's Degree Equivalent
41,360 satisfied customers
There is an llc s corp. There are 5 partners. There are 20
There is an llc s corp. There are 5 partners. There are 20 investors. They are making a movie. I do a 1065. The partners share in the loss as the movie has not been sold yet. They get k-1's that show … read more
Lev
Lev
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Bachelor's Degree Equivalent
41,360 satisfied customers
A PARTNERSHIP WITH TWO PARTNERS. NET AMOUNT OF PROFITS FROM
A PARTNERSHIP WITH TWO PARTNERS. NET AMOUNT OF PROFITS FROM FARMING IS 70,754. THEY BOUGHT A SEED TENDER FOR 10,000, WANTING TO EXPENSE IT. 10,000-- WHEN I FINISH THE RETURN AND BEGIN THEIR INDIVIDUAL… read more
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