CMS LP (multiple strategies)
CMS LP (multiple strategies)
New Category | LP |
Investment Manager | CMS |
Fund Status | |
Archive | No |
Custodian | N/A |
Jurisdiction | USA |
T1135 Reporting | Yes Category 6 - Other property outside Canada |
Currency | USD |
Tax Slip | K-1 |
Receiver of Tax Receipt |
RFO/Client |
Tax Slips Expected |
|
Statements Expected |
Annual |
Accounting Treatment |
Per K-1. When income is received you will reduce the investment until the tax information is received at year-end and then reclassify accordingly |
Tax Memo/ Tax Treatment |
Per K-1, prepare the US return with the information on the K-1. Per T5013, prepare the CDN return with the T5013 information and then and also offset taxes with a foreign tax credit due to the US filing |
US Tax Return Required | Yes |
Type | Partnership (Real Estate) |
Nature of Investment |
Company located in Philadelphia, PA that is a Real Estate investment company that is associated with various partnerships |
Notes | CMS Value Real Estate II LP and CMS GenN*360 Capital Fund LP were dissolved in 2021. 2021 K-1 is the final K-1. |