What tax benefits for being passive investor for syndication?

[Manson C.]

Hi. I participated in a syndication last year (2016) and I am planning to file my 2016 tax this coming week. 

1. What tax benefits will I be getting via the syndication?

2. Will I be getting tax benefits such as mortgage interest deduction and depreciation?

3. Will I be receiving a K-1 form from my sponsor?

Thanks.

[Steven Hamilton II]

1. What tax benefits will I be getting via the syndication?

That will depend upon the agreement and how it is structured. It will also depend upon the profit of the entity as well.

2. Will I be getting tax benefits such as mortgage interest deduction and depreciation? See number 1 but keep in mind what will be passed to you is typically a NET profit or Loss item and a few other adjustments that are subject to the rest of your tax situation.

3. Will I be receiving a K-1 form from my sponsor?

Yes, you will be receiving one from the syndication.