tax basis
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tax basis The question has come up at our latest meeting. Why is the tax basis so much more than the total paid in? I read the help, but I want to be able to explain it to the group in simple terms. Thanks, amz46@yahool.com The tax basis also includes any net income/gains that were allocated to the members each year when the K-1s were prepared. If your tax basis weren't increased by these amounts you would be paying double taxation - once when earned and again when you withdrew from the club.
Ira Smilovitz
Join me at InvestEd 2010
Investor Education at Its BestTM Baltimore, MD August 6 - 8, 2010 http://www.investor-education2010.org/ In a message dated 04/26/10 11:32:19 Eastern Daylight Time, amz46@bivio.com writes:
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