are you guys filing a tax return for this investment club? just curious bc im doing somethhiing similar and im pretty sure that I remember reading you 100% have to when i was a tax CPA a few years ago for a firm then i left havnt looked at that rule in a while or did you find a exemption where it lets you elect out of schedule K? I doubt there is one but i just wanted to see what you guys do bc there are huge penalties per partner if the irs determines you are a partnership its likke 500-600 per partner per month for 12 months and any token holder is a partner and i dont know if you can use the investment club exemption for the SEC as there are passive members and you cant have passsive memebers under that exemption everyone must particifpate this is assumning you have a US busienss.;
You are viewing a single comment's thread from: