Hedge Fund Partnership Form 1065 Returns: Identifying Fund Structures and Preparing Tax Filings
Navigating Mark-to-Market Rules, Straddles, and Fund Manager Income Reporting Rules
Recording of a 110-minute CPE webinar with Q&A
This course will provide tax advisers with a practical introduction to the complexities of preparing a Form 1065 return for a hedge fund or private equity fund partnership. The panel will offer guidance on income classification rules, mark-to-market elections, and preparation of key schedules including K-1s for partners and 106-S for the investment managers. The webinar will also discuss tax reporting issues for foreign partners of U.S. hedge funds, as well as withholding requirements for state income tax and non-resident partners.
Outline
- Identifying fund and partnership structure
- Classifying income as investor vs. trader
- Mark-to-market election considerations
- Reporting investment manager fees and income
- Reporting wash sales, constructive sales and straddles
- Foreign reporting and withholdings
Benefits
The panel will discuss these and other complex topics:
- Various hedge fund structures and how each structure impacts the tax reporting of the fund partnership
- Factors in determining whether to make a Section 475 mark-to-market election
- Reporting fund manager income and preparing Form 106S
- Reporting Section 1256 straddles
- Determining investor vs. trader in reporting income and deductions
Faculty
Christopher J. Williams, CPA
Director
Citrin Cooperman
Mr. Williams is experienced in public accounting, specializing in financial services. His clients include... | Read More
Mr. Williams is experienced in public accounting, specializing in financial services. His clients include registered investment advisors, registered brokers and dealers, investment companies, hedge funds, private equity funds, general partnerships, and management companies. Prior to joining his Firm, he served clients at a Big 4 accounting firm. He helps his clients prepare and plan for new regulatory matters and financial service business opportunities. He also consults them on how to improve efficiency and how to identify tax savings opportunities.
CloseJay M. Laurila, CPA, MT
Director
Cohen & Company
Mr. Laurila specializes in tax work for regulated investment companies, hedge funds, ETFs, MLP funds, private equity... | Read More
Mr. Laurila specializes in tax work for regulated investment companies, hedge funds, ETFs, MLP funds, private equity funds, fund-of-funds and other private investment funds. He leads client service teams focused on a wide range of tax matters, including federal, state and international taxation of financial instruments, accounting methods and product structures. Previously working at a Big 4 firm for 13 years, his experience spans a wide range of tax-related investment management disciplines and includes international experience managing a large team of tax professionals.
CloseKatie Brandtjen, CPA
Senior Manager
EisnerAmper
Ms. Brandtjen is a Senior Tax Manager in the Financial Services Group. She provides tax compliance and planning... | Read More
Ms. Brandtjen is a Senior Tax Manager in the Financial Services Group. She provides tax compliance and planning services to hedge funds, private equity funds, funds of funds, broker-dealers, and investment advisors. Her focus also includes business entity tax and personal tax.
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