Tolly
Level 4
04-13-2020
02:39 PM
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I thought about that as well but I had PFIC income and made a QEC election so I had basis adjustments to that K-1 anyway. Most of my clients with PTP"s don't know there getting a K-1 until it comes. The numbers you end up floating through the return are awfully small on most of them even with a $ 25,000 investment. To do it right takes just as much time as if it were a million dollar investment. Very frustrating for me. This one has 19 entities listed on the Form 926 information sheet!