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Updated almost 6 years ago,

User Stats

34
Posts
30
Votes
Russell Roberts
  • Clarksville, TN
30
Votes |
34
Posts

Confused about K1 filing with states where investments reside

Russell Roberts
  • Clarksville, TN
Posted

In 2018, I started some LP investing in syndications.   I was thinking that the tax filing with this would be easier than direct real estate ownership because I would simply get a K1 from GP sponsor to input into my federal income taxes.    

My questions:

1) Some of the K1s I've received also contain state level K1 equivalent (and some do not).   I have at least 10 different states represented.  Am I responsible to file state level returns now?   Is this complex enough that I need to start using a tax advisor?

2)  A couple of the K1s I should have received by March 15 are still not received.   I may have to file a federal tax return filing extension in order to wait for receipt.  Is this unusual? 

thanks.

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