Friday, March 18, 2011

What is this?

Tax Tip:  Many of us have our investment portfolios handled by one of the big investment houses, or possibly an investment adviser in our local community. If this is the case and you have investments in a taxable portfolio (I'm not talking about your IRA, 401K, 403B, or within an annuity, etc) it is imperative for you to know what tax forms to expect. Now that March 15th has come and gone, many taxpayers are just now receiving what are called K-1 forms from investments, especially publicly traded partnerships. If you filed your tax return prior to receiving these documents, you may need to amend your tax returns.

Always communicate with your investment adviser as to what forms to expect and make certain they are all accounted for prior to filing your return.

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