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Updated almost 4 years ago on . Most recent reply

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Sam Dal
  • New York, NY
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LImited partner K1's

Sam Dal
  • New York, NY
Posted

Folks

Not sure if I'm allowed to mention specific fund names here but I'm invested in a popular ATM fund run out of a company in PA. Their K1 shows my ownership in about 12 states with losses ranging from $12 - $1000. Since ATM assets really don't have much value left at fund closing or disposition time, I would likely not have any profits on the last K1. Hence, is it needed to really file those 12 state returns? I understand filing for states where I'm a passive investor in a multi-family property since I do want to carry-over losses when the property sells but don't understand if I need to do that for ATM

Thanks

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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
  • Tax Accountant / Enrolled Agent
  • Houston, TX
Replied

@Sam Dal

Read this thread  https://www.biggerpockets.com/...

  • Michael Plaks
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