USO (tax reporting regarding schedule k-1)

Is anyone familiar with reporting taxes regarding USO? I recently received a schedule k-1 for USO. I had bought and sold USO during 2007.

Thanks,
Maverick

 

What's your question? The instructions that came with your K-1 should tell you what forms and lines you need to report the numbers on.

 

WTF........u got a k1 for trading USO?

 

Thanks. I'll take a look at the instructions and see how to file tax returns for USO with the K-1.

Never had to deal with a K-1 before. Kinda caught me by surprise to get one, especially for trading USO.

Maverick

 

Yes, I got a k-1 for trading USO. In fact, everyone that traded USO should have received a k-1.

Maverick

 

well thanks for letting us know - i will stay away from that stock in my retail account....but how do prop firms handle this? they probably get one k-1 for the master prop account.