User avatar
hOMSaR
Posts: 1620
Joined: Tue Jan 19, 2010 4:47 am

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.
The plural of Airbus is Airbuses. Airbii is not a word.
There is no 787-800, nor 787-900 or 747-800. It's 787-8, 787-9, and 747-8.
A321neoLR is also unnecessary. It's simply A321LR.
Airplanes don't have isles, they have aisles.
 
PacNWjet
Posts: 809
Joined: Thu Sep 14, 2000 1:18 am

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
Posts: 387
Joined: Wed Feb 04, 2004 2:11 am

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.
 
User avatar
hOMSaR
Posts: 1620
Joined: Tue Jan 19, 2010 4:47 am

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.
The plural of Airbus is Airbuses. Airbii is not a word.
There is no 787-800, nor 787-900 or 747-800. It's 787-8, 787-9, and 747-8.
A321neoLR is also unnecessary. It's simply A321LR.
Airplanes don't have isles, they have aisles.
 
sccutler
Posts: 5638
Joined: Thu Jan 27, 2000 12:16 pm

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.
...three miles from BRONS, clear for the ILS one five approach...
 
User avatar
hOMSaR
Posts: 1620
Joined: Tue Jan 19, 2010 4:47 am

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.
There is no 787-800, nor 787-900 or 747-800. It's 787-8, 787-9, and 747-8.
A321neoLR is also unnecessary. It's simply A321LR.
Airplanes don't have isles, they have aisles.

Who is online

Users browsing this forum: BobPatterson, casinterest, einsteinboricua, GDB, Kiwirob, StarAC17, WingsFan and 3 guests

Popular Searches On Airliners.net

Top Photos of Last:   24 Hours  •  48 Hours  •  7 Days  •  30 Days  •  180 Days  •  365 Days  •  All Time

Military Aircraft Every type from fighters to helicopters from air forces around the globe

Classic Airliners Props and jets from the good old days

Flight Decks Views from inside the cockpit

Aircraft Cabins Passenger cabin shots showing seat arrangements as well as cargo aircraft interior

Cargo Aircraft Pictures of great freighter aircraft

Government Aircraft Aircraft flying government officials

Helicopters Our large helicopter section. Both military and civil versions

Blimps / Airships Everything from the Goodyear blimp to the Zeppelin

Night Photos Beautiful shots taken while the sun is below the horizon

Accidents Accident, incident and crash related photos

Air to Air Photos taken by airborne photographers of airborne aircraft

Special Paint Schemes Aircraft painted in beautiful and original liveries

Airport Overviews Airport overviews from the air or ground

Tails and Winglets Tail and Winglet closeups with beautiful airline logos