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Do i have to pay taxes on partnership income (UCO shares) that i did not realize yet?
I have bought some UCO shares in 2020, but never sold them. I was sent a Schedule K-1 (1065) after i had already filed my taxes, and the 1065 shows 0 (empty) in Box 1 Ordinary business income. But Boxes 8 (net short-term capital gain/loss) and 11(Other income) show positive numbers. Those correspond to the gains on paper that I have not realized yet, as I havent sold the UCO shares yet.
I have not sold any of my UCO shares - should i still pay taxes this year on them?
‎April 2, 2021
4:30 PM