Hedge Fund Schedule K-1s and U.S. Foreign Reporting

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Hedge funds are investment partnerships that issue a Schedule K-1 to investors which are partners in the partnership. The Schedule K-1 reports the partner’s distributive share of the taxable income, gain, loss, deduction and credit from the partnership. The Schedule K-1 is filed with the hedge fund’s U.S. federal partnership tax return. Hedge funds issue Schedule K-1s with detailed footnotes which include disclosures regarding additional reporting that may be required by the partners on their respective U.S. federal tax returns. Hedge fund Schedule K-1s typically include certain foreign reporting disclosures regarding the fund’s investments in foreign corporations including Passive Foreign …read more

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