Looking to invest in real estate syndications but worried about the tax implications? In this highlight episode, tax expert Kelsey Head tackles your most pressing tax questions, equipping you to confidently navigate the world of K-1s, passive losses, and state filings.
Kelsey emphasizes the importance of reviewing your K-1 forms promptly and thoroughly. She walks you through essential checks, including verifying your name, address, social security number, and tax ID information. Additionally, she highlights the importance of ensuring contributions and distributions match your records.
3 Key Takeaways You’ll Learn:
- K-1 Review Essentials: Avoid last-minute scrambling by learning to identify and verify crucial information on your K-1 tax forms.
- Passive Loss Strategies: Understand how passive losses from real estate syndications can be carried forward to offset future capital gains.
- When to Hire a Tax Pro: Know when seeking professional tax guidance is essential for your real estate investments.
Even if you invest outside your resident state, filing state taxes there is crucial. This allows you to utilize any losses against future gains in that state. Stay informed and make smarter investment decisions!
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About Kelsey Head:
As a partner at Head Tyler LLP, a firm she founded in 2020 amid the COVID pandemic after leaving a large firm where she also held a partner position, Kelsey Head brings almost 18 years of tax experience and CPA expertise to her role. With a wealth of knowledge, she establishes herself as a trusted expert in the field. Committed to providing clients with valuable insights and guidance, Kelsey’s extensive tax background defines her as a reliable professional.
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