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Q: Tax writeoff's from an LLC submitted in a schedule K-1 ( No Answer,   0 Comments )
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Subject: Tax writeoff's from an LLC submitted in a schedule K-1
Category: Business and Money
Asked by: morgan_g_jones-ga
List Price: $10.00
Posted: 14 Mar 2005 17:22 PST
Expires: 26 Mar 2005 21:10 PST
Question ID: 494733
When filing taxes, how are long-term capital gains from the sale of
stock and losses from investments filed in a K-1 accounted?  For
example, the tax rate on long-term capital gains from the sale of
stock is 15%.  Gains/Losses from investments filed in a K-1 should be
taxed at the person's tax rate.  But if you have both (long-term gains
from stock and losses from an LLC filed in a K-q), do they just offset
each other at the person's tax rate?  It appears that's what Turbotax
did for my taxes.
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