The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Tax prep for Limited Partnerships||Date: 3/29/2014 8:03 PM|
|Author: gdrescher||Number: 120624 of 122638|
I'm a small investor using Trade King for all my online trades.
I handed my tax accountant the 1099 and Schedule D forms provided by Trade King for 2013 and after reviewing them he needed other forms for my trades involving Limited Partnerships which he was able to obtain.
Apparently entering all of the data required for LP's is substantially more involved than other stocks. His point was that it took about 20 minutes of research and entering the data for each stock/LP. This costs me money.
Being that I'm only making $2000-$3000 trades how much should I take into account the cost of preparing my taxes for these types of trades?
The cost for preparing tax on LP's is taking a chunk of what I earn in dividends.
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