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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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