Another year, another delayed K1 CityVest - are folks filing for extensions?

[Neuro]

Its already 4/14. Is everyone filing for extensions? Unlike last year, the deadlines have not been postponed. I did get a couple of emails from Alan/ CityVest about the delay though.

[VagabondMD]

This is par for the course for these real estate (and other) partnerships. There is no reason to single out CityVest. Some of us are just not cut out for these hassles. On the plus side, those of us invested in Trion received a pretty fat deposit into our accounts this week.

[The White Coat Investor]

Yes, I filed an extension. I'm still missing 8 K-1s and I got 5 just in the last week. This is par for the course with these investments.

Yes, my CityVest investment is one of those. Also missing K-1s from Origin (1 of 2), Equity Multiple, 37th Parallel (1 of 2), Alpha Investing, Alpha Flow, Passive Income MD (usually my last one each year-August or September last year), and one other.

If it bothers you to file extensions, do not invest in private real estate. You will file extensions. You will also likely file in multiple states unless you're very picky about your investments.

[Lithium]

I’m not in CityVest but have received 6 out of 7 K1’s so far. Filed extension yesterday. It does not take much time.

[ACN]

Missing 2 for our private practice RE investments

[Hawkeye225]

I'm in several LP investments and have one delayed K-1 which is the best year that I can recall. None of these are CityVest. As above, if the extensions bother people, best to avoid them. The extension is no big deal.

[Neuro]

Update - did get the K1 from CityVest. Yay.

Btw - my effective tax rate is 34% ( double income high W2 - the worst possible).

[Neuro]

For WCI

- Thanks for all you HAVE done and STILL do. Nothing but gratitude from my family. Not blaming anyone.

[PhysicianOnFIRE]

My CityVest DLP Lending Fund came in the other day. I've gotten 8 K-1s, waiting on 2.

[The White Coat Investor]

Yup, there it is. My CityVest K-1 on 4/14/2022. Not exactly early, but it's not late. 5 left.

[Zaphod]

This is par for the course for K-1s in general. I think I have gotten all mine and did the taxes. You never know though. I got several last week.

[Papaya]

Another data point -- still waiting on the CityVest K1 for the Trion Fund on 5/24. To those with more experience than me, is that still in a typical timeframe for PE syndications?

[afan]

This is just one of the many reasons i would not invest in one of these deals. But for those who choose them how do you estimate your taxes and pay by the due date while you are waiting for the K1's? Not bother to pay in April and pay penalties every year? Make a very large payment and get a refund every year?

[VagabondMD]

Another data point -- still waiting on the CityVest K1 for the Trion Fund on 5/24. To those with more experience than me, is that still in a typical timeframe for PE syndications?

I emailed with Alan last week, and he responded on 5/19 with the following:
"I do not know why it is taking my tax accountant so long. They have promised several times. I am expecting in the next couple of days, although I have said that before."

So, hopefully any day now. This is not unusual.

[The White Coat Investor]

This is just one of the many reasons i would not invest in one of these deals. But for those who choose them how do you estimate your taxes and pay by the due date while you are waiting for the K1's? Not bother to pay in April and pay penalties every year? Make a very large payment and get a refund every year?

Guess. And yes, guessing often results in a large payment/refund.

But honestly most of these real estate investments don't spit off much taxable income. My more active partnerships are where the guessing comes in.