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Even though I sold this thing, I still got a confusing K-1 form to add to the complexity of my taxes. Apparently when you own this, you are part of a limited partnership. Because of this, it seems you get taxed on interest that you do not actually receive. Maybe you can add the fake interest to your cost basis when you sell. There is a worksheet for this in the K-1 instructions, but it is not very clear.
I am just happy to be rid of this, and I strongly recommend that people do NOT buy this in a taxable account. The tax code is a monstrosity and needs to be nuked. Will our elected officials ever fix this mess? Sentiment : Hold Rating :
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Do NOT Buy in Taxable Acct
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originalfre... |
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25-Feb-09 07:35 pm | ||
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Thanks for posting this info. This is very helpful...
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pkammit | (1 Rating) | 19-Mar-09 01:48 pm |
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