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-   -   When are LLC's required to get you your K-1? (http://www.elitetrader.com/vb/showthread.php?t=13793)

Speedracer Feb 8th, 2003 06:11 PM

When are LLC's required to get you your K-1?
 
I was part of an LLC last year and I am wondering when they are required to get me the K-1 they owe me. That is all I am waiting on to do my taxes, and I was wondering if it is supposed to be here by the end of Jan, like 1099's. Anyone out there in the know, Don Bright, etc? Thanks

Ron In-a-sauna Feb 8th, 2003 06:27 PM

end of february

Speedracer Feb 8th, 2003 06:38 PM

thanks for the quick reply, nm
 
nm

gnome Feb 8th, 2003 07:39 PM

Re: When are LLC's required to get you your K-1?
 
Quote:

Quote from Speedracer:

I was part of an LLC last year and I am wondering when they are required to get me the K-1 they owe me. That is all I am waiting on to do my taxes, and I was wondering if it is supposed to be here by the end of Jan, like 1099's. Anyone out there in the know, Don Bright, etc? Thanks
"Not receiving a K-1" is a common reason for filing an extension.

BillW Feb 9th, 2003 03:28 PM

K-1s from LLC
 
Most LLC members agreements spell out the last day the LLCs should send out statements and K-1s to their members. If it is not spelled out, the firm has until the day it actually files its tax returns to give you your K-1, namely April 15th; unless it files an extension which gives it till October 15th (in which case the member needing the K-1 should also file his extension). On a goodwill basis, LLCs normally send out the K-1s to their members as early as their CPAs can complete preparing the tax returns.

BillW

Don Bright Feb 11th, 2003 03:30 PM

Re: When are LLC's required to get you your K-1?
 
Quote:

Quote from Speedracer:

I was part of an LLC last year and I am wondering when they are required to get me the K-1 they owe me. That is all I am waiting on to do my taxes, and I was wondering if it is supposed to be here by the end of Jan, like 1099's. Anyone out there in the know, Don Bright, etc? Thanks
We get ours out by the end of February, although the reg's don't require that....kinda loose, weird for the IRS.

Don


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