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Tax Time / Schedule K-1 Question  
User currently offlinehOmsAR From United States of America, joined Jan 2010, 1180 posts, RR: 0
Posted (1 year 7 months 3 days 16 hours ago) and read 817 times:

I realize this won't be official tax advice (and I won't act solely on this alone), but I'm just wondering if anyone out there has an answer to a question I have.

For a few years, I had a small stock investment in a fund that would send out a schedule K-1. These are generally sent out in mid-March, meaning I can't complete my tax return until then.

I sold my investment in this fund early last year. Should I still expect to receive a schedule K-1, or should I be "off the hook" so to speak, because I didn't hold a position in it as of December 31?

I did my taxes last night, and except for two other forms that I expect to receive in the next couple of weeks which will only have a minor impact on my net taxes, I could send it in right away rather than having to wait an extra month for the K-1.


I was raised by a cup of coffee.
5 replies: All unread, jump to last
 
User currently offlinePacNWJet From United States of America, joined Sep 2000, 980 posts, RR: 0
Reply 1, posted (1 year 7 months 3 days 15 hours ago) and read 807 times:

The IRS has a toll-free number to answer questions such as this: (800) 829-1040.

User currently offlineVC10BOAC From United States of America, joined Feb 2004, 402 posts, RR: 0
Reply 2, posted (1 year 7 months 3 days 15 hours ago) and read 799 times:

If you owned the investment for any period during the tax year, you should expect to receive a Schedule K-1.

User currently offlinehOmsAR From United States of America, joined Jan 2010, 1180 posts, RR: 0
Reply 3, posted (1 year 7 months 3 days 15 hours ago) and read 795 times:

Quoting VC10BOAC (Reply 2):
If you owned the investment for any period during the tax year, you should expect to receive a Schedule K-1.

Thanks.



I was raised by a cup of coffee.
User currently offlinesccutler From United States of America, joined Jan 2000, 5509 posts, RR: 28
Reply 4, posted (1 year 7 months 3 days 15 hours ago) and read 791 times:

Also, do not forget that the gain or loss from the sale of the asset is a separate reportable from whatever shows up on the K-1.


...three miles from BRONS, clear for the ILS one five approach...
User currently offlinehOmsAR From United States of America, joined Jan 2010, 1180 posts, RR: 0
Reply 5, posted (1 year 7 months 3 days 13 hours ago) and read 779 times:

Quoting sccutler (Reply 4):
Also, do not forget that the gain or loss from the sale of the asset is a separate reportable from whatever shows up on the K-1.

That I know. I should be getting that paperwork in a week or two.



I was raised by a cup of coffee.
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