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2690388
Returning Member

Turbotax have been used for filing tax returns. How can I get a letter certifying accredited investor status from Turbotax?

 
3 Replies
VolvoGirl
Level 15

Turbotax have been used for filing tax returns. How can I get a letter certifying accredited investor status from Turbotax?

You can't get anything like that from Turbo Tax.  Turbo Tax is a self prepared return.    I never heard of a investor status?  What is that?

VolvoGirl
Level 15

Turbotax have been used for filing tax returns. How can I get a letter certifying accredited investor status from Turbotax?

It shows you are in the LIVE expert help version.  You can ask your expert.  How to connect to an Expert
https://ttlc.intuit.com/community/expert-review/help/how-do-i-connect-with-a-tax-expert-in-turbotax-...

Critter-3
Level 15

Turbotax have been used for filing tax returns. How can I get a letter certifying accredited investor status from Turbotax?

Accredited investor

From Wikipedia, the free encyclopedia
 
An accredited or sophisticated investor is an investor with a special status under financial regulation laws. The definition of an accredited investor (if any), and the consequences of being classified as such, vary between countries. Generally, accredited investors include high-net-worth individuals, banks, financial institutions and other large corporations, who have access to complex and higher-risk investments such as venture capital, hedge funds and angel investments.

Laws may require that some types of financial offerings may only be made to accredited investors.[1
]

 

United States    

https://en.wikipedia.org/wiki/Accredited_investor#:~:text=In%20the%20United%20States%2C%20to,to%20ma...

In the United States, to be considered an accredited investor, one must have a net worth of at least $1,000,000, excluding the value of one's primary residence, or have income at least $200,000 each year for the last two years (or $300,000 combined income if married) and have the expectation to make the same amount this year.

The term "accredited investor" is defined in Rule 501 of Regulation D of the U.S. Securities and Exchange Commission (SEC) as:

  1. a bank, insurance company, registered investment company, business development company, or small business investment company;
  2. an employee benefit plan, within the meaning of the Employee Retirement Income Security Act, if a bank, insurance company, or registered investment adviser makes the investment decisions, or if the plan has total assets in excess of $5 million;
  3. a charitable organization, corporation, or partnership with assets exceeding $5 million;
  4. a director, executive officer, or general partner of the company selling the securities;
  5. a business in which all the equity owners are accredited investors;
  6. a natural person who has individual net worth, or joint net worth with the person's spouse, that exceeds $1 million at the time of the purchase, or has assets under management of $1 million or above, excluding the value of the individual's primary residence;
  7. a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year
  8. a trust with assets in excess of $5 million, not formed to acquire the securities offered, whose purchases a sophisticated person makes.
  9. a natural person who has certain professional certifications, designations or credentials or other credentials issued by an accredited educational institution, which the Commission may designate from time to time. Presently holders in good standing of the Series 7, Series 65, and Series 82 licenses.
  10. natural persons who are "knowledgeable employees" of a fund with respect to private investments.
  11. limited liability companies with $5 million in assets may be accredited investors.
  12. SEC- and state-registered investment advisers, exempt reporting advisers, and rural business investment companies (RBICs) may qualify.
  13. Indian tribes, governmental bodies, funds, and entities organized under the laws of foreign countries, that own “investments,” as defined in Rule 2a51-1(b) under the Investment Company Act, in excess of $5 million and that was not formed for the specific purpose of investing in the securities offered.
  14. Family offices with at least $5 million in assets under management and their "family clients," as each term is defined under the Investment Advisers Act.
  15. "Spousal equivalent" to the accredited investor definition, so that spousal equivalents may pool their finances for the purpose of qualifying as accredited investors.[11][12][13][14]
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