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Posted by Beliavsky on October 9, 2007, 8:28 pm
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> I invested $100K as a limited partner in a hedge fund in
> 2006, which declined to $49K, but when I use Turbotax, I am
> surprised that this investment has greatly increased my
> taxes. On the K-1, the nonzero items, in thousands of
> dollars, are
>
> -21 (1) Ordinary business income
> 52 (5) Interest income
> 5 (6a) Ordinary dividends
>
> -11 (11f) section 1256
> -15 (11f) mixed straddle short term
> -22 (11f) mixed straddle long term
>
> 1 (13v) management fees
> 1 (13v) operating expense
> 25 (13v) interest expense
> 13 (13v) dividend expense
>
> My question is if the (13v) interest expense can be
> reclassified as "investment interest expense"? What about
> the (13v) dividend expense? Is there some other way to get
> the dividend expense to offset the ordinary dividends in
> (6a) and to carry over the dividend expense to ordinary
> dividends recieved in future years?
I have received two replies to my question on
misc.invest.financial-plan . The thread is at
http://groups.google.com/group/misc.invest.financial-plan/browse_frm/thread/11b1ff51e80c40ba/54f1be2b30a617b3?hl=en#54f1be2b30a617b3
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