Preferably from a tax professional/CPA. I'm interested in investing in some limited partnerships. Is there anything actually 'hard' about filing the K-1s when doing tax return? I understand it can be tedious and I have heard you may have to file a separate state return for each state the LP operates in. Is this the case always? Please let me know if its a bad idea to do myself or not. Ty.

>>60540065 (OP)
are u active or passive owner?
report income on sch.E every year,
any interest & div report income on sch.B,
losses if active report on sch.E every year
losses if passive report on form 8582

>>60540065 (OP)
>Asking a forum for tax advice
If you have the money to invest in a limited partnership, you have the money to find a CPA and pay them for a 1 hour consultation on your question.

>>60540065 (OP)
Lmao just don’t report it you fucking nigger holy shit

>>60540065 (OP)
literally just enter the forms they send you
turbojewtax has it built in
>t. 2M nw