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#1
posted to rec.boats
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Yo Greg!
Until the mail came yesterday, I thought my tax returns were finished. They'd even been accepted by
the feds and the state. And then yesterday's mail came. It included a Sched K-1 from that friggin' USO! So I just finished the amended tax return process. Don't know why they take until mid-March to get out the forms, but they do. Hope they didn't screw yours up also. |
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#2
posted to rec.boats
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Yo Greg!
On Sat, 18 Mar 2017 12:23:31 -0400, Poco Deplorevole
wrote: Until the mail came yesterday, I thought my tax returns were finished. They'd even been accepted by the feds and the state. And then yesterday's mail came. It included a Sched K-1 from that friggin' USO! So I just finished the amended tax return process. Don't know why they take until mid-March to get out the forms, but they do. Hope they didn't screw yours up also. K-1s are always late. I have just been taking my distributions as ordinary income and throwing the K-1s away. It turns out I end up losing a few bucks by doing that but it is not worth fooling with and the IRS seems OK with it. If they ever do call me on it, I will amend my return and make them send me a few bucks. |
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#3
posted to rec.boats
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Yo Greg!
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#5
posted to rec.boats
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Yo Greg!
On Sat, 18 Mar 2017 20:43:39 -0400, wrote:
On Sat, 18 Mar 2017 14:48:39 -0400, Poco Deplorevole wrote: On Sat, 18 Mar 2017 13:05:50 -0400, wrote: On Sat, 18 Mar 2017 12:23:31 -0400, Poco Deplorevole wrote: Until the mail came yesterday, I thought my tax returns were finished. They'd even been accepted by the feds and the state. And then yesterday's mail came. It included a Sched K-1 from that friggin' USO! So I just finished the amended tax return process. Don't know why they take until mid-March to get out the forms, but they do. Hope they didn't screw yours up also. K-1s are always late. I have just been taking my distributions as ordinary income and throwing the K-1s away. It turns out I end up losing a few bucks by doing that but it is not worth fooling with and the IRS seems OK with it. If they ever do call me on it, I will amend my return and make them send me a few bucks. How do you know what the distributions are before getting the K-1? I get a statement at the end of the year. Did USO send you a statement at the end of the year? Those assholes said they didn't receive the info from brokers and nominees until late January. Who do you get your statement from? |
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#6
posted to rec.boats
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Yo Greg!
On Sun, 19 Mar 2017 08:22:52 -0400, Poco Deplorevole
wrote: On Sat, 18 Mar 2017 20:43:39 -0400, wrote: On Sat, 18 Mar 2017 14:48:39 -0400, Poco Deplorevole wrote: On Sat, 18 Mar 2017 13:05:50 -0400, wrote: On Sat, 18 Mar 2017 12:23:31 -0400, Poco Deplorevole wrote: Until the mail came yesterday, I thought my tax returns were finished. They'd even been accepted by the feds and the state. And then yesterday's mail came. It included a Sched K-1 from that friggin' USO! So I just finished the amended tax return process. Don't know why they take until mid-March to get out the forms, but they do. Hope they didn't screw yours up also. K-1s are always late. I have just been taking my distributions as ordinary income and throwing the K-1s away. It turns out I end up losing a few bucks by doing that but it is not worth fooling with and the IRS seems OK with it. If they ever do call me on it, I will amend my return and make them send me a few bucks. How do you know what the distributions are before getting the K-1? I get a statement at the end of the year. Did USO send you a statement at the end of the year? Those assholes said they didn't receive the info from brokers and nominees until late January. Who do you get your statement from? I am partnered with Carl Ihcan. He turned around a real estate partnership that was dead in the water after the 1986 tax reform. I went for years without seeing a dime from them. Now I am getting a few grand a year in dividend/distributions. Not bad for something I paid 10 grand for in 77 and got a hefty tax write off on for 8-9 years. They tried to buy me out a half dozen times for chump change and now I am glad I did not do it. For a while I owned more of the Trump Taj than Trump. Carl has a buyer on the line and it is either gone or going. |
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#7
posted to rec.boats
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Yo Greg!
On Sun, 19 Mar 2017 12:23:18 -0400, wrote:
On Sun, 19 Mar 2017 08:22:52 -0400, Poco Deplorevole wrote: On Sat, 18 Mar 2017 20:43:39 -0400, wrote: On Sat, 18 Mar 2017 14:48:39 -0400, Poco Deplorevole wrote: On Sat, 18 Mar 2017 13:05:50 -0400, wrote: On Sat, 18 Mar 2017 12:23:31 -0400, Poco Deplorevole wrote: Until the mail came yesterday, I thought my tax returns were finished. They'd even been accepted by the feds and the state. And then yesterday's mail came. It included a Sched K-1 from that friggin' USO! So I just finished the amended tax return process. Don't know why they take until mid-March to get out the forms, but they do. Hope they didn't screw yours up also. K-1s are always late. I have just been taking my distributions as ordinary income and throwing the K-1s away. It turns out I end up losing a few bucks by doing that but it is not worth fooling with and the IRS seems OK with it. If they ever do call me on it, I will amend my return and make them send me a few bucks. How do you know what the distributions are before getting the K-1? I get a statement at the end of the year. Did USO send you a statement at the end of the year? Those assholes said they didn't receive the info from brokers and nominees until late January. Who do you get your statement from? I am partnered with Carl Ihcan. He turned around a real estate partnership that was dead in the water after the 1986 tax reform. I went for years without seeing a dime from them. Now I am getting a few grand a year in dividend/distributions. Not bad for something I paid 10 grand for in 77 and got a hefty tax write off on for 8-9 years. They tried to buy me out a half dozen times for chump change and now I am glad I did not do it. For a while I owned more of the Trump Taj than Trump. Carl has a buyer on the line and it is either gone or going. Well how can you throw away the K-1 statements when you're getting a few grand a year in dividends? You mean the IRS is OK with that? You are one brave soul. |
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#8
posted to rec.boats
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Yo Greg!
On Sun, 19 Mar 2017 15:09:32 -0400, Poco Deplorevole
wrote: On Sun, 19 Mar 2017 12:23:18 -0400, wrote: On Sun, 19 Mar 2017 08:22:52 -0400, Poco Deplorevole wrote: On Sat, 18 Mar 2017 20:43:39 -0400, wrote: On Sat, 18 Mar 2017 14:48:39 -0400, Poco Deplorevole wrote: On Sat, 18 Mar 2017 13:05:50 -0400, wrote: On Sat, 18 Mar 2017 12:23:31 -0400, Poco Deplorevole wrote: Until the mail came yesterday, I thought my tax returns were finished. They'd even been accepted by the feds and the state. And then yesterday's mail came. It included a Sched K-1 from that friggin' USO! So I just finished the amended tax return process. Don't know why they take until mid-March to get out the forms, but they do. Hope they didn't screw yours up also. K-1s are always late. I have just been taking my distributions as ordinary income and throwing the K-1s away. It turns out I end up losing a few bucks by doing that but it is not worth fooling with and the IRS seems OK with it. If they ever do call me on it, I will amend my return and make them send me a few bucks. How do you know what the distributions are before getting the K-1? I get a statement at the end of the year. Did USO send you a statement at the end of the year? Those assholes said they didn't receive the info from brokers and nominees until late January. Who do you get your statement from? I am partnered with Carl Ihcan. He turned around a real estate partnership that was dead in the water after the 1986 tax reform. I went for years without seeing a dime from them. Now I am getting a few grand a year in dividend/distributions. Not bad for something I paid 10 grand for in 77 and got a hefty tax write off on for 8-9 years. They tried to buy me out a half dozen times for chump change and now I am glad I did not do it. For a while I owned more of the Trump Taj than Trump. Carl has a buyer on the line and it is either gone or going. Well how can you throw away the K-1 statements when you're getting a few grand a year in dividends? You mean the IRS is OK with that? You are one brave soul. If I am paying ordinary income on the dividends they seem happy. When I do fill out all the forms, I get a few bucks more back. They can audit me and pay me more, their choice. They have owed me money the last 2 times I was audited too. |
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#9
posted to rec.boats
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Yo Greg!
On Sun, 19 Mar 2017 23:05:07 -0400, wrote:
On Sun, 19 Mar 2017 15:09:32 -0400, Poco Deplorevole wrote: On Sun, 19 Mar 2017 12:23:18 -0400, wrote: On Sun, 19 Mar 2017 08:22:52 -0400, Poco Deplorevole wrote: On Sat, 18 Mar 2017 20:43:39 -0400, wrote: On Sat, 18 Mar 2017 14:48:39 -0400, Poco Deplorevole wrote: On Sat, 18 Mar 2017 13:05:50 -0400, wrote: On Sat, 18 Mar 2017 12:23:31 -0400, Poco Deplorevole wrote: Until the mail came yesterday, I thought my tax returns were finished. They'd even been accepted by the feds and the state. And then yesterday's mail came. It included a Sched K-1 from that friggin' USO! So I just finished the amended tax return process. Don't know why they take until mid-March to get out the forms, but they do. Hope they didn't screw yours up also. K-1s are always late. I have just been taking my distributions as ordinary income and throwing the K-1s away. It turns out I end up losing a few bucks by doing that but it is not worth fooling with and the IRS seems OK with it. If they ever do call me on it, I will amend my return and make them send me a few bucks. How do you know what the distributions are before getting the K-1? I get a statement at the end of the year. Did USO send you a statement at the end of the year? Those assholes said they didn't receive the info from brokers and nominees until late January. Who do you get your statement from? I am partnered with Carl Ihcan. He turned around a real estate partnership that was dead in the water after the 1986 tax reform. I went for years without seeing a dime from them. Now I am getting a few grand a year in dividend/distributions. Not bad for something I paid 10 grand for in 77 and got a hefty tax write off on for 8-9 years. They tried to buy me out a half dozen times for chump change and now I am glad I did not do it. For a while I owned more of the Trump Taj than Trump. Carl has a buyer on the line and it is either gone or going. Well how can you throw away the K-1 statements when you're getting a few grand a year in dividends? You mean the IRS is OK with that? You are one brave soul. If I am paying ordinary income on the dividends they seem happy. When I do fill out all the forms, I get a few bucks more back. They can audit me and pay me more, their choice. They have owed me money the last 2 times I was audited too. You lost me. I don't see how you can claim K-1 income, along with a half dozen other entries from the K-1, as some kind of 'estimated' ordinary income, especially when it's a few grand a year. You're a brave soul! |
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#10
posted to rec.boats
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Yo Greg!
On Mon, 20 Mar 2017 08:27:24 -0400, Poco Deplorevole
wrote: On Sun, 19 Mar 2017 23:05:07 -0400, wrote: On Sun, 19 Mar 2017 15:09:32 -0400, Poco Deplorevole wrote: On Sun, 19 Mar 2017 12:23:18 -0400, wrote: On Sun, 19 Mar 2017 08:22:52 -0400, Poco Deplorevole wrote: On Sat, 18 Mar 2017 20:43:39 -0400, wrote: On Sat, 18 Mar 2017 14:48:39 -0400, Poco Deplorevole wrote: On Sat, 18 Mar 2017 13:05:50 -0400, wrote: On Sat, 18 Mar 2017 12:23:31 -0400, Poco Deplorevole wrote: Until the mail came yesterday, I thought my tax returns were finished. They'd even been accepted by the feds and the state. And then yesterday's mail came. It included a Sched K-1 from that friggin' USO! So I just finished the amended tax return process. Don't know why they take until mid-March to get out the forms, but they do. Hope they didn't screw yours up also. K-1s are always late. I have just been taking my distributions as ordinary income and throwing the K-1s away. It turns out I end up losing a few bucks by doing that but it is not worth fooling with and the IRS seems OK with it. If they ever do call me on it, I will amend my return and make them send me a few bucks. How do you know what the distributions are before getting the K-1? I get a statement at the end of the year. Did USO send you a statement at the end of the year? Those assholes said they didn't receive the info from brokers and nominees until late January. Who do you get your statement from? I am partnered with Carl Ihcan. He turned around a real estate partnership that was dead in the water after the 1986 tax reform. I went for years without seeing a dime from them. Now I am getting a few grand a year in dividend/distributions. Not bad for something I paid 10 grand for in 77 and got a hefty tax write off on for 8-9 years. They tried to buy me out a half dozen times for chump change and now I am glad I did not do it. For a while I owned more of the Trump Taj than Trump. Carl has a buyer on the line and it is either gone or going. Well how can you throw away the K-1 statements when you're getting a few grand a year in dividends? You mean the IRS is OK with that? You are one brave soul. If I am paying ordinary income on the dividends they seem happy. When I do fill out all the forms, I get a few bucks more back. They can audit me and pay me more, their choice. They have owed me money the last 2 times I was audited too. You lost me. I don't see how you can claim K-1 income, along with a half dozen other entries from the K-1, as some kind of 'estimated' ordinary income, especially when it's a few grand a year. You're a brave soul! I see a check from Ichan for around ~$500 a quarter. I pay taxes on that. Come and get me copper. |
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