First of all, I want to thank everyone who has helped me with various issues during the last few years. I am glad that these newsgroups are continued by Google and have not dissapeared.
I have two issues, which I am not sure how to deal with and appreciate any advice or suggestions.
#1) For the tax year 2009, I received three K-1 (form 1065) for my trades in my individual brokerage account and my wife received one K-1 for her IRA Rollover account. Now, I assume that nothing needs to be done for my wife, as this is an IRA account and she is still in her
30's. As for me, I am part-time day-trader. So 99% of the time, if I trade any position, I close it out by the end of the day (for a loss or gain). Looking at my three K-1's, I see that for #1 (symbol MWE), I have everything in Part III marked with a 0 and the State in marked 0,. For #2 (symbol UNG), I have nothing market in Part III and 0 marked in the Ordinary Gain and AMT on the 2009 Sales Schedule. For #3 (symbol USO), I have a 0 in Distribtuions in Part III and 0 marked in the Ordinary Gain and AMT on the 2009 Sales Schedule. Knowing this, do I need to do anything with these forms at all for my 2009 tax filings? I have showed all of the actual transactions for these on my Schedule D (the buys and sells for each of the 3 securities).#2) I was one of those who lost money in Enron stock. My realized loss was in the year 2001 and I lost $4,400 (shown on my schedule D of that year). In 2008, I received a settlement distrubition for my Enron stock loss, which was in a form of a check in the amount of $1,135. I showed this income as a "Long-term Captial Gain" in my
2008 taxes on Schedule D, with the date of the "Buy" being the day I took the original loss in 2001, and a cost basis being 0 and the "Sell" being the date of the settlement check. Meaning, I had a gain of 1,135. Now, here is where it gets a bit complicated. During 2009, I unexpectedly received an additional check which is a "second distribution" in the amount of $218. How and where do I show this one? Should I do the same as I did in 2008? If not, where should I list it?Thank you very much for all your help!