# Living Well Fund III Limited Partnership # Living Well Fund III Limited Partnership
**New Category**LP
**Investment Manager**Sheiner Group
**Fund Status**
**Archive**No
**Custodian**Sheiner Group
**Jurisdiction**USA
**T1135 Reporting**Yes - requires T1135 and US tax reporting, however due to more than 10% Canadian ownership, the Partnership is obligated to file T1135. Section: Category 6 - Other property outside Canada
**Currency**USD
**Tax Slip**T5013 and K-1. Prepare US tax return with K1 and Canadian return with T5013. Living Well II 2016 - T5013s are to be received from the fund. The T5013s should be used to complete the Canadian return. K-1s should be provided to US tax to file the US return required for Living Well. Additionally in 2016 there is a memo associated with a loan and interest in the fund. Please refer to [tax memo](https://richter365.sharepoint.com/sites/R-Investopedia/Shared%20Documents/Forms/AllItems.aspx?csf=1&web=1&e=JrRdaH&cid=2753815b%2D27f5%2D4c24%2D8171%2D9f0c4979d63d&RootFolder=%2Fsites%2FR%2DInvestopedia%2FShared%20Documents%2FGeneral%2FTax%20Memos%20%2D%20Special%20Treatment&FolderCTID=0x012000BABC0AFB4F624749A4B83B2C21851FFA) folder for more details. Living Well III 2016 - T5013s and K-1s are produced. Similar steps to LW II, but no memo
**Receiver** **of Tax Receipt**RFO / Client
**Tax Slips Expected**
**Statements Expected** Annual
**Accounting** **Treatment**Per T5013 or K-1. When distributions are received you will decrease the ACB of the investment until the tax information is received at year-end and then reclassify accordingly. \*Requires US tax return to be filed. On July 13th, 2021, Living Well II made a distribution of $90,105 US (for every $1M commitment) to investors, this distribution was actually a loan bearing interest at the rate of 3.25% per annum. Interest will be repaid together with the loan as demanded by LP.
**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
**Nature** **of Investment**Rental income from multi-family US properties
**Notes**