TaxAudit Blog

Tag: K-1

SEP IRA

When shares of a limited partnership held in a SEP-IRA are completely sold are the gains subject to recapture as ordinary income as shown on the K-1 taxable?

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Tax Extension

As taxpayers, we are personally responsible for filing our returns both on time and accurately. Failure to do one or both can result in significant penalties.

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Schedule K-1

If the income items on the Schedule K-1 are sufficiently large, they will generate additional taxes due on your return. You will need to amend your tax return.

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