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K-1 Taxation

K-1s are common for our client base & may result from:

  • Income from passive or active partnerships
  • Allocable share of Publicly Traded Partnerships
  • Carry from employment at a Hedge Fund or Private Equity Fund 
  • Real estate investments
  • Trusts, estates, inheritances, liquidations, etc.

Characteristics of K-1s can include:

  • Multiple states
  • Foreign tax credit items
  • Supplementary notes
  • Capital gains (long vs. short term)

For these types of situations, we are frequently approached with the following questions:

  • How much should I set aside for tax if my primary compensation is K-1? 
  • Are there any tax-saving strategies for me available for me to limit my tax exposure?
  • Can I take deductions against my K-1 income & what types of deductions would qualify? 
  • Can you assist with filing my annual tax return? 
  • Should I make estimated tax payments, and if so, how much?
  • How are state taxes computed? 
  • How do I use passive unallowed activity losses? 

These (and more) are all common scenarios that we compute for the clients.

Contact us at if you would like to get started with an analysis, tax return, or to book a consultation to discuss strategy.

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