CoHo Partnerships and taxes
From: David G Adams (
Date: Mon, 5 Dec 94 14:41 CST
Hi all.  I need the wisdom of the net.

We (Cornerstone) have a Joint Venture Agreement describing how one becomes a 
partner and the rules for breaking up (which WON'T happen...).  We are not 
incorporated as anything, although we do have a Federal Employer ID number 
(We didn't want to attach the group's checking accounts to any individual's 

We have been trying to figure out whether we need to file a partnership 
statement with the IRS.  If not, why not?  If so, how do we calculate the 
profit (NOT!) or loss, and what do we need to put into our report to 

Yes, we are going to be talking to the lawyer (thanks for your lawyer, New 
View) and he will probably have good advice.  But I wanted to find out what 
other groups have done, and our group doesn't want to invest the time and 
money into hiring an accountant right now.  We're too busy doing site 
programming, membership orientations, advertising, contract negotiation, 
affordable housing planning, conflict resolution over kids in the meetings, 
and property acquisition.

Thanks ahead of time,
Dave Adams


  |\/\/\/|  David G. Adams   
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 OO    ) |  Arlington, MA
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