Deductions
“I receive multiple complex Schedule K-1s from private equity investments, how do I properly handle the passive activity loss limitations to offset my gains?”
Multiple private equity Schedule K-1s often create a layered passive activity picture, because each investment can carry its own income, loss, basis, and disposition history. The treatment of passive activity losses usually depends on how the interests are classified, whether the losses are suspended from prior years, and how gains, distributions, or sales are matched across the K-1s. Partnership reporting details, material participation facts, and the presence of any fully taxable exit event can also change the result. In practice, the analysis often turns on how the K-1 items are grouped and tracked over time. A CPA who reads your specifics can usually tell you, in plain English, where this lands.
In your 60-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“I incurred massive personal credit card debt to fund my struggling business, is the crippling interest I pay on those cards tax deductible?”
“Can I deduct my new home office using the actual expense method without immediately triggering a red flag audit from the IRS?”
“I bought a heavy luxury SUV primarily for my real estate business, how does the Section 179 vehicle deduction actually work for passenger vehicles?”
“I use my personal cell phone extensively for my freelance work, what exact percentage of my monthly phone bill is safe to write off?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
Back to the full library