![]() ![]() To those of us that actually care about the US Tax Code, it does make a difference. Interestingly enough, one of my trusted lieutenants noticed that one of the K-1s from one of the partnerships incorrectly reported a gain on the sale of a partnership asset as a long-term capital gain rather than an IRC §1231 gain for property used in trade or business potentially causing an understatement of passive activity income. ![]() I’ve been working a very complicated file since my last post involving income in 11 states and countless K-1s, Partner’s Share of Income, Deductions, Credits, etc. The lesson learned is that you always start by requesting in writing that a corrected K1 be issued. This post addresses how to use IRS Form 8082 to report an incorrectly issued K1. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |