Just got my K1

D

dstod

I just got my K1 this weekend that was for a short period of time that I traded with Andover last year.

I lost my $2000 deposit trading with them and it shows up on my k1. I completely forgot about this loss when I filed my taxes.

I received a small Federal refund for my taxes. This loss would have given my another couple hundred dollars on my refund.

Does anyone know what steps I can take?

Can I file an amendment? Or do I just have to wait til next year's tax return to file this loss?

Any feedback would be greatly appreciated!

Thank you
 
Quote from dstod:

I just got my K1 this weekend that was for a short period of time that I traded with Andover last year.

I lost my $2000 deposit trading with them and it shows up on my k1. I completely forgot about this loss when I filed my taxes.

I received a small Federal refund for my taxes. This loss would have given my another couple hundred dollars on my refund.

Does anyone know what steps I can take?

Can I file an amendment? Or do I just have to wait til next year's tax return to file this loss?

Any feedback would be greatly appreciated!

Thank you
More...

Lucky you, we're still waiting for them.
 
Quote from calibertrader:



Lucky you, we're still waiting for them.
More...

caliber.....I have a friend who is STILL waiting for his too.....bummer.

J-
 
Quote from dstod:

I just got my K1 this weekend that was for a short period of time that I traded with Andover last year.

I lost my $2000 deposit trading with them and it shows up on my k1. I completely forgot about this loss when I filed my taxes.

I received a small Federal refund for my taxes. This loss would have given my another couple hundred dollars on my refund.

Does anyone know what steps I can take?

Thank you
More...

File an amended return if you want your money sooner versus later (next year)!
 
Quote from cornholetrading:

I still have not received mine so I don't know how you got yours so fast from Andover.
More...

Thats hilarious man- "I don't know how you got yours so fast"

I got is so fast, I forgot I had lost $ trading with them...:D

I appreciate everone's feedback. I'll file an amended return a.s.a.p.
 
Quote from dstod:



I appreciate everone's feedback. I'll file an amended return a.s.a.p.
More...

Good idea. But the you could have expedited the whole thing by calling the IRS. They would have sent you the form right away (or told you where to get it).

And all you Andover guys that did not get your k1s may, depending on circumstances, have a little compensation coming to you. They are legally bound to have it to you by Jan 31 (unless your partnership has a different fiscal year, which is doubtful, but possible).

I know I got mine from Generic mid January. I thought Andover had their shit together. Guess you never know.
 
Quote from Rs8.5:



And all you Andover guys that did not get your k1s may, depending on circumstances, have a little compensation coming to you. They are legally bound to have it to you by Jan 31 (unless your partnership has a different fiscal year, which is doubtful, but possible).
More...

Isn't that 1099's that you have to get by Jan 31st not K-1's? They can only give out k-1's after they finish their taxes which can be up to when taxes are do. Although I think at this point they are considered late. I am actually pretty pissed about right now. I am guessing the delay was from the whole buyout thing that happen right when taxes were coming up, but don't know for sure.
 
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