K1 Question

Judith Hotovec on

On the member tax allocation report, the dividends are
separated into ordinary and qualified. But on the K1 2008
tax forms, they are summed together. The same total then
appears in 6a and 6b so that I cannot tell the difference
between qualified and ordinary. Why are they not separated
as per the report?

Rip West on

On the member tax allocation report, the dividends are separated into ordinary and qualified. But on the K1 2008 tax forms, they are summed together. The same total then appears in 6a and 6b so that I cannot tell the difference between qualified and ordinary. Why are they not separated as per the report?

6a on the k1 is the total dividends to be reported by the member. 6b is the amount of the dividends shown on 6a that are 'qualified'. If the two amounts are the same, there were no dividends reportable by that member which were not qualified. If this represents a difference from your allocation report, something is wrong.

Rip West
Saint Paul, MN

iras1 on

Qualified dividends are a subset of ordinary dividends. On the allocation report they may be listed as qualifying and nonqualifying. But ordinary dividends is the sum of the two.

Ira Smilovitz

In a message dated 02/07/09 13:38:20 Eastern Standard Time, jhotovec@bivio.com writes:

On the member tax allocation report, the dividends are
separated into ordinary and qualified. But on the K1 2008
tax forms, they are summed together. The same total then
appears in 6a and 6b so that I cannot tell the difference
between qualified and ordinary. Why are they not separated
as per the report?

Judith Hotovec on

I re-ran the member allocation report which has now changed.
It matches the tax K1 forms now. I suspect that there was a
problem with the previous report.
Thanks to both of you who replied.

Mail