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#1
04-08-2009, 05:22 PM
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 Re: where did the distributions from line 19 of 1065 Schedule K1go? removeps-groups[at]yahoo.com wrote: - quote - > Looking at my Schedule K-1 for a 1065, there is a distribution on Line
In my case, the amount on line 19 equals the total distributions on my> 19. But I didn't receive any money from the partnership. I'd expect > a direct deposit to show up in my brokerage account, or at least for > them to mail me a check. Distributions lowers your cost basis and > thus increases your capital gain, so this is an important issue. brokerage (Schwab) statement. The distributions on the brokerage statement were labeled "Cash Dividends" -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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04-07-2009, 10:24 PM
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| Re: where did the distributions from line 19 of 1065 Schedule K1 go? In misc.taxes.moderated, removeps-groups[at]yahoo.com wrote: - quote - > Looking at my Schedule K-1 for a 1065, there is a distribution on Line
I would expect it to show up in your brokerage account. Look at your> 19. But I didn't receive any money from the partnership. I'd expect > a direct deposit to show up in my brokerage account, or at least for > them to mail me a check. Distributions lowers your cost basis and > thus increases your capital gain, so this is an important issue. statement history. If the partner is publicly traded, the pay dates can be identified to help know where on the statements (not the 1099s) to look for the payments. The pay dates are later than the ex-distribution dates. The statement may show the payment as return of capital. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
04-07-2009, 08:49 PM
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| where did the distributions from line 19 of 1065 Schedule K1 go? Looking at my Schedule K-1 for a 1065, there is a distribution on Line 19. But I didn't receive any money from the partnership. I'd expect a direct deposit to show up in my brokerage account, or at least for them to mail me a check. Distributions lowers your cost basis and thus increases your capital gain, so this is an important issue. -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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