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hOMSaR
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Tax Time / Schedule K-1 Question

Wed Jan 30, 2013 4:21 pm

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.
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PacNWjet
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RE: Tax Time / Schedule K-1 Question

Wed Jan 30, 2013 4:58 pm

The IRS has a toll-free number to answer questions such as this: (800) 829-1040.
 
VC10BOAC
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RE: Tax Time / Schedule K-1 Question

Wed Jan 30, 2013 5:26 pm

If you owned the investment for any period during the tax year, you should expect to receive a Schedule K-1.
 
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hOMSaR
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RE: Tax Time / Schedule K-1 Question

Wed Jan 30, 2013 5:39 pm

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.
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sccutler
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RE: Tax Time / Schedule K-1 Question

Wed Jan 30, 2013 5:44 pm

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.
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hOMSaR
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RE: Tax Time / Schedule K-1 Question

Wed Jan 30, 2013 7:28 pm

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.
The plural of Airbus is Airbuses. Airbii is not a word, and doesn't even make sense.

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