Many people receive them in the mail and toss them aside – not so fast! Here are some quick facts about what the K-1 is: Any time you are invested in a “pass through entity”, you haven’t paid tax at the partnership level, so you have to pay it to the IRS individually. We’re making it super clear and easy (finally!) The K-1 tax form: a clear explanationĪ K-1 tax form is used to report the earnings, losses, and dividends you make by participating in some type of private investment, usually a Limited Partnership (LLP), Limited Liability Corporation (LLC) or a small percentage of ETFs. Here’s our clearly explained guide to the K-1 tax form, including an explanation of what the different parts of the K-1 mean, as well as the common questions we get about it. Whenever we hear the topic of form K-1 discussed, it’s always explained using highly technical language that is almost impossible for the average investor to decipher. K-1 Tax Form for dummies: clear, easy guide (with screenshots!)
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