K-1

[ralphmelton]

Because of various dealings with Queria, I owned a small amount of stock in Queria, LLC for the span of a month last year.

Just today, they managed to get the K-1 form for that into my hands.

I expected that its effects would be insignificant. However, it's not quite that--it looks like it'll save us $200-300 on taxes. Whee!

Comments

[cellio]

Yay!

What's a K-1?

[ralphmelton.livejournal.com]

The title is "Partner's Share of Income Credits, Deductions, etc."

As an LLC, Queria's losses got shared proportionally among its partners. The K-1 is the form that lists my share of Queria's losses.

[indigodove.livejournal.com]

Whee! Indeed :)

Just in time, too.