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Rather than the business or partnership being responsible for paying taxes as an entity, the tax liability is split among the partners or shareholders. That being said, partners or investors don’t have to prepare the K-1 form themselves, rather they must use the information provided on the issued form to complete their individual returns.
For certain high-income individuals, there is a way to defer tax liability while achieving diversification. Its important to note that in order to participate in an exchange fund, you need to satisfy certain criteria including importantly being an accreditedinvestor or qualified purchaser.
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