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Updated almost 3 years ago on . Most recent reply

Wilson Davis's profile image
Wilson Davis's profile image
Wilson Davis
  • Investor
  • from Charlotte, North Carolina
  • Member since Aug 22, 2015
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Wilson Davis's profile image
Wilson Davis's profile image
Wilson Davis
  • Investor
  • from Charlotte, North Carolina
  • Member since Aug 22, 2015
Connect
Wilson Davis
  • Investor
  • Charlotte, NC
0
Votes |
8
Posts
Tax, SDIRAs & Cost Segregation

K1 possible incorrect? What to do?

Wilson Davis
  • Investor
  • Charlotte, NC
Posted

I'm in a LLC partnership with 2 other people. The accountant who one of the partners has always used did our K1. We bought some lots, built two houses, and sold them. He put the income down as capital gains instead of ordinary income on the K1. I'm 99% sure it can't be capital gains. Is there anything I can do?

Charlotte, North Carolina
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