|Re: Urgent Tax question for groups that have lost money||<– Date –> <– Thread –>|
|From: Kristi Barlow (kristibrooklyncohousing.org)|
|Date: Wed, 2 Jun 2010 08:36:59 -0700 (PDT)|
Date: Tue, 1 Jun 2010 09:22:29 -0400 From: Sharon Villines <sharon [at] sharonvillines.com> On Jun 1, 2010, at 8:42 AM, Kristi Barlow wrote:Our accountant wants to see precedent from at least one other cohousing group that has done the same. I think that means a group that had/has an LLC which showed ("passed through") losses on final K-1s to the owner-partners.In addition to posting here, I would suggest talking to real "normal" estate investors as this must be a problem not limited to cohousing. Sharon
Thanks for your suggestion Sharon.Actually, if this were regular real estate development business and not a cohousing LLC there would be no issue with claiming the losses. Or if the LLC had been founded with the intent to make a profit there would be no issue. It is too much to go into here at length, but in short, we specifically are in need of talking to other Cohousing groups whose LLC members lost money in the end.
Urgent Tax question for groups that have lost money Kristi Barlow, June 1 2010
- Re: Urgent Tax question for groups that have lost money Sharon Villines, June 1 2010
- Re: Urgent Tax question for groups that have lost money Kristi Barlow, June 2 2010
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