Sun, Dec 21, 2014, 9:32 AM EST - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

MUNI MTG Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • fletch_4kf fletch_4kf Mar 30, 2010 3:15 PM Flag

    Dumb question on K-1

    The K-1 doesn't provide any info on your short or long term capital gains/losses; those are handled separately on your Sched. D. If you use Turbo tax for example, all your trading gains and losses can be imported directly from your brokerage company and the K-1's, which usually come in much late,r are handled in a manual entry method. If you have many of the K-1s it is really worth it to get Turbo tax as the program leads you by the hand - step-by-step.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • That is incorrect, the K-1 will affect your basis in the company. Turbo Tax will not help you with this issue, you really need to see a professional. There is what we call inside and outside basis. Depending on the buys/sells and what gains or losses you show on your K-1. Trust me, do not try this on your own if you don't know what you are doing or you will probably end up screwing yourself more then this stock has.

 
MMAB
1.840.00(0.00%)Sep 26 3:24 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.