From the course: Business Tax Foundations

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K-1s: For partnerships and investments

K-1s: For partnerships and investments

From the course: Business Tax Foundations

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K-1s: For partnerships and investments

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- [Instructor] K1s are probably the most annoying tax documents you'll deal with. If you invest in any sort of partnership, such as a private equity fund, a hedge fund, various publicly traded companies that operate as partnerships, or any sort of real estate partnership, if you own local real estate, you will get a K1. This is true if your firm operates as a joint venture also, in most cases. Let me show you what a K1 looks like and what's in it. Now, this is a generic K1. Yours might look slightly different, especially if you invest in a publicly traded private equity fund, where they're going to computer print everything, but in general, you'll have the same information on all of the K1s. In part one, you're going to have the partnership's employer identification number along with their address, name, et cetera, okay? And then in part two, that's where your information comes in. For most people out there, you're probably going to be a limited partner or other LLC number. If you are…

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