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EFTA01280121.pdf

set10 Interestingness: 3/10 Original PDF ↗

AI Summary

This document is a Schedule K-1 tax form for tax year 2012 showing a partnership distribution from Midway Cadence, LLC to Blue Chip Capital, LLC. The form shows a net loss of $1,617 including rental real estate losses and consulting fee deductions. [Rating: 3/10 - Routine tax document showing standard partnership distributions with no notable figures or significant amounts]

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financial_transactions

Extracted Entities

Name Type Context
BLUE CHIP CAPITAL, LLC organization Partner receiving the K-1 distribution, based in Thomasville, NC
MIDWAY CADENCE, LLC organization Partnership entity issuing the K-1 form, based in New York

Full Text

1
.
Schedule I(.1 2012
(Form 1086) nal K-1 L7 Amended IN CRIB No 1545-0093
i D n e te pa rr r d tm R e e n v t e o n f u M e e S T e r r e v a it s e u ry y ro e - s o , o rw w w er w w r r y ig w N r e O m V s. E or M un B ER 13, 2 012 Part lit P D a e r d t u n c e t r i ' o s n S s h a C r r e e d o i f t C s, u a r n re d n O t Y th e e a r r I I t n e c m o s m e,
Partner's Share of Income, . D ... e ,,, d , u D c E t C io E n M s, B ER 31, 2012 1 O I rdMar, bushes Income ( 0 tos . s) 15 Credds
Credits, etc. *See separate Instmettonll. 2 am
mut rerii 'stow Inerriero.
I —1 115 • 16 Foreign transactions
Part I , Information About the Partnership 3 a,n not rental Income (loss)
. r . . BC IdeAddead011 number 4 Guaranteed payments
r
a rp s name, address, c4y, state, and ZIP code 6 Interest income
MIDWAY CADENCE, LLC
(la Ordinary dividends
N 2 E 70 W L Y A O F R A K Y , E N TT Y E S 1 T 0 R 0 E 1 E 2 T , SUITE 409 I 17 Alternative mh tax (AMT) dents
C IRS Center where partnershipMed return IM j Q . u .. alified dNIdends )12 j 151.
E—FILE
7 Royatlies
0 ra Check Orris la a publicly traded partnersMp (PTP) 8 N i e t shorkerm capital gain (loss) 14 n T o a n x d -e e x d e u m ct p ib t I l n e c e o x m pe e n a s n e d s
1 1
3.#3M„P krtormation Aboutt he Partner Oa Net long-temn capital gain dose)
—1,
mbar
se Collettittes (28%) gah floss) 10 Psatusors
1
artners name, address, city, state, and VP code 9c triveraphired sec 1250
gain
2 B 7 L U H E I G C H HI T P E C C H AP B I L T V AL D , . LLC 10 Net tediOn 1231 gain (loss) 20 Other Informadon
THOMASVILLE NC 27360
11 Other Income Nu)
0 ri General partner or LLC , United partner or other MC
member-manager
member
H 0:4 Domestic partner IN Foreign partner
PI what type of entity is Mk partner? PARTNERSHIP 12 Section 179 deduction
12 if MN partner is a renannInt plan (IRAMEPACeogleletc.), check here EJ
J Partners share of moat, loss.and capital:
13 Calm deductkets
Beginning
Email W* I 502.
Profit 1.55622501% 1.5562250%
Loss 2.0080320% 2.0080320%
Capbl 2.0080320% 2.0080320% 14 Self-employment earnings (oss)
K Partners share ot tabilliss at year
Nonrecoune end: $ 211. L .1 0.
availed nonrecOuru financing $ 'See attached statement for addMonal Informalon.
Recourse $ 158,875.
L Partners capital accountancy:Jr.
Beginning capital account $
Capital contributedduring the year $ 50,000. g
Current year Increase (decrease) S -1,652.
WIthchayraks & disMbutions .. ... .. ... ...... S( )2
Ending capital account $ 48,348.i
cr
Tax bass = amp 0 Seddon 704(b) book
Other (explain)
M Did the partner centre:ruts properly with a bull-in gain or loss?
C2 Fes Er He
II Yes' attach statement r see Ann:dons)
21,4fr
Ol -03-13 LMA For Paperwork Reduction An Nonce, see Instructions for Form 1065. IRS oowlormi065 Schedule K-1 (Form 1065) 2012
ISM MIDWAY CADENCE, LLC
CONFIDENTIAL
SDNY_GM_00032028
EFTA_001 4264 I
EFTA01280121

MIDWAY CADENCE, LLC
SCHEDULE K-1 OTHER DEDUCTIONS, BOX 13, CODE W
DESCRIPTION PARTNER FILING INSTRUCTIONS MOUNT
CONSULTING FEES 502.
TOTAL TO SCHEDULE K-1, BOX 13, CODE W 502.
SCHEDULE K-1 CURRENT YEAR INCREASES (DECREASES)
DESCRIPTION AMOUNT TOTALS
RENTAL REAL ESTATE INCOME (LOSS) -1,115.
SCHEDULE K-1 INCOME SUBTOTAL -1,115.
OTHER DEDUCTIONS -502.
SCHEDULE K-1 DEDUCTIONS SUBTOTAL -502.
NET INCOME (LOSS) PER SCHEDULE K-1 -1,617.
PREPAID RENT-CY -35.
OTHER INCREASES OR DECREASES SUBTOTAL -35.
TOTAL TO SCHEDULE K-1, ITEM L -1,652.
PARTNER NUMBER 1
MIDWAY CADENCE, LLC
CONFIDENTIAL
SONY_GM 00032029
EFTA 00142642
EFTA01280122

1
Schedule K-1 (Form 1065) 2012 Page 2
This list Identifies the codes used on Sisheds le K-1 icr all partners end provides summarized reporting Information for partners who file
Form 1040. For detailed reporting and filing Ink:emotion, see the separate Partners Instructions for Schedule K-1 and the Instruction:
tor your income tax return.
Code Pawl en
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MIDWAY CADENCE, LLC
CONFIDENTIAL
SONY_GM_00032030
EFTA_00142643
EFTA01280123

New York State Deoartment of Taxation end Finance IT-204-IP
New York Partner's Schedule K-1
2012
Tax Law - Article 22 (Personal Income Tax)
Final K-1
For calendar year 2012 or tax year beginning 11- 13 -2012 and ending 12-31-2012 Amended K-1
Partners: Before completing your Income tax return. see Forty IT2044P4, Pertners Instnictions for Form IT-204-IP (avallabie at eninv.tax.ny.gov).
Partnership's information (see Instructions)
Partnership's name (a shown on Form IT•204) Partnership's EIN
MIDWAY CADENCE, LLC
O
A Mart an X In the box If ekher applies to your entity Publicly traded partnership Portfoto itvestment partnership
8 Tax shelter registration number. if any
C Business allocation. percentage C
Partner's information (see instructions)
Partners name Pansies Identifying number
BLUE CHIP CAPITAL, LLC
Partners Stress
27 HIGH TECH BLVD.
City State ZIP code
THOMASVILLE NC 27360
au
CI The partner is a rive. en X tie ammonia* box) C General partner ceLLC member•manager Waited partner or other LLC member
E What Is the tax filing status of the partner? visa en X s ineerometw, a •PrAtilli irtthidUal Eststertrue [IC Partnership
F if the partner Is a disregarded entity or grantor trust.
enter the tax ID of the entity or individual reporting the Income, if known
0 Did the partner ael Its entre Hereon during the tax year? 0 Yes n No
H Partner's there of profit. lose, and capital Beginning Ending
1) Profit H1 1.5562 % 1.5562 %
2) Loss H2 2.0080 % 2 . 00 80 %
3) Cope& H3 2 . 00 80 % 2.0080 %
i Partners share of liabritles at the end se the yew
1) Nonrecourse ht 211 .
2) Qualified nonrecourse financing 12
3) Recourse . 13 158,875.
J Panner's capital account analysis
1) Beginning capital account . .... ... . 41
2) Capital contributed during the year • cash . .. ........ J2 50,000.
3) Capital contributed during me year - PrOP.rtY J3
4) Current yew Increase ;decrease) J4 -1,652.
5) Withdrawals and datributions • Cash J8
6) Withdrawals and cistrIbutions • property J8
7) Ending capitol account J7 48,348.
8) Method of accounting (maws X In the appropn'ate box)
El
al Tax basis GASP n Book = Other (submit evrnenatfon)
K Resident status (mark en X Psi? boxes that apt
CI NYS full•yeer resident _I Yonkers full-year resident L.: NYC fueyear resident
C NYS pert•year resident C Yonkers partysar resident C NYC parhyear resident
DU
NYS nonresident C Yonkers nonresident
L It the perMer WO Included In a group return, enter the speciW NYS identification number, If known . L
114*12
CONFIDENTIAL
SONY_GM 00032031
EFTA 00142644
EFTA01280124

Page 2'l 4 IT-204-4P (2012)
n
II 1) Was Fonn (7.2868£ Ned with the pannerehipi Ml Yes I= No
2) Was Forrn MTA-405-E filed with the polnershlp? M2 Yes C No E
N NYS sob-rioted tax paid on behalf of partner (from Form 1T-2658) Date Amount
1) Fax installment
2) Second installment
3) Third Instalment N3
4) Fourth Installment N4
Total NYS estimated tax peel on behalf of portner (add linos NI through N4) N
0 Estimated MCTMT paid on behald panne, (from Form WA-405) Date Amount
1) First Installment
2) Second Installment 02
3) Third Installment 03
4) Fourth installment 04
Total estimated MCTMT paid on behalf of pannier (add Nees 01 through 04)
Partner's share of Income, deductions, etc.
B - Federal K-1 amount C - New York State amount
A - Partnere distnbutIve share kerns
1 Ordinary business Income (lose) 1
2 Net rented real estate boom, Oast 2 -1,115. 2
3 Other net rental ir corns tosa) 3 3
4 Guaranteed payments • 4
5 interest income 5 5
Ordnary cleckinds e 8
7 Royeltke 7 7
8 Net shoe-teen capital gain taes) 8 8
9 Nei longtemt capital gain (Ices) 9 9
10 Net section 1231 pain (loss) 10 10
11 Other income Nest /dent* 11 11
12 Section 179 deduction 12 12
13 Other deductbna Identify: SEE STATEMENT 13 502. 13
14 Tax preference items for minimum tax 14 151 . 14
ideate:
15 Net earnings (osa) from self-employment 15 15
le Tax-exempt income arid nondeductible expenses 18 18
17 DistributionS cash and marketable Securities 17 17
18 Cistributlons • otter property 18 18
I9 Other items not Included above that are required to be
reported separatelytopartners 19 19
!dents*:
Partner's share of New York modifications (see Instructions)
20 New York State additions
Number A - Total amount B - New York State allocated amount
20e EA-
20b EA-
20c FA-
20d EA-
20e EA-
201 EA-
21 Total adcttion modifications (total of caimn A 'Ines 20a thicvQ1, 2C0 21
2P8M2
CONFIDENTIAL
SDNY_CM_00032032
EFTA_G0 I 42645
EFTA01280125

IT-204-IP (2012) II*. 3 of 4
Partner's share of New York modifications (continued)
22 New York State subtractions
Number A • Total amount B - New York State allocated amount
22a ES-
22b ES-
22o ES-
22d ES-
22t. ES.
22i ES.
23 Total sebtracticm modifications (total of column A, Roos 22a through 221) 23
24 Additions to fedeng Itemized deductions
Letter Amount
24a
24b
24o
24d
24e
241
25 Total additions to fedora/ itemized deductions (odd fines 24a through 240
26 Subtractions from federal Itemized deductions
Letter Amount
213a
266
26o
26d
26e
26f
27 Total subtractions from federal itemized deductions (add lines 26a through 261) 27
28 New York adjustments to tax preference items
Partner's other Information
29e Partner's share cf New York source gross Income
296 IACTD allocaton percentage (see Insructions) .
Partner's credit information
Part 1 - Flow-through credit bases and factors
Brownfield redevelopment tax omit /Form IT-611 or IT-611.7)
A - Form IT-611 B - Form IT-611.1
30 Site preparation credit component 30 30
31 Tangible property credit component 31 31
32 On-sits groundwater remedation Credit component 32 32
221841
CONFIDENTIAL
SDNY_GM_00032033
EFTA _00142646
EFTA01280126

Page 4 cf 4 It-204-IP 0012)
Partner's credit Information (connnueo)
EZ capital tax credit (Fon" IT-602)
33 Contributions of money to EZ community development projects 93
34 Recapture of credit for investments in certified f2 businesses
36 Recapture of credit for contributions of money to EZ community development projects 35
QEZE tax reduction credit (Form ?•604)
36 OESE employment ncrease factor 30
37 OEZE zone a:location factor . 37
38 OEZE benefit pencd lector 30
Excelsior jobs program tax credit FonnI T-607)
39 Excelsior loos tax credit component 311
40 Excelsior Investment tax credit component 40
41 Excelsior research and development tax credit component 41
42 Excelsior real properly tax credit component 42
Farmers' school tax credit (Form 1T-217)
43 Acres of CNEllifled agricultural property 43
44 Acres of qualified conservation property 44
46 noble school district property tams Oki 96
46 Acres of qualified agricultural property converted to nonquaklied use 46
Other flow-through credit bases and factors
Credit Oases
Code Amount Code Amount
47a 47d
476 47e
47c 471
CrOcl t factors
Code Factor Code Factor Code Factor
470 471 47k
47h 47J 471
Part 2 - Flow-through credits, addbacks and recaptures
48 Longterm care Insurance credit (Form IT-249) 48
49 investment credit ffncludng employment incentive cm* and historic bar relmblatation cruet Form IT-212)49
50 Research and development • Investment credit (Forrn 17-2 2) 50
51 Other flowtnrough credits
Code Amount Code Amount
51a 51e
516 511
51e 51g
51d 51h
62 Addbacka of credits and •ecaptures
Code Amount Code Amount
52a 52d
526 52a
52c 52f
289662
CONFIDENTIAL
SDNY_GM_00032034
EFTA_001 42647
EFTA01280127

MIDWAY CADENCE, LLC
NY IT-204-IP OTHER DEDUCTIONS
AMOUNT FROM NEW YORK
FEDERAL STATE
DESCRIPTION SCHEDULE K-1 AMOUNT
CONSULTING FEES 502. O.
TOTAL TO FORM /T-204-IP, PAGE 2, LINE 13 502. O.
PARTNER NUMBER 1
CONFIDENTIAL
SDNY_GM_00032035
EFTA 00142648
EFTA01280128

(NDO-4R0:34) I3D) 2012PartwesShamof
WC.Income,AdJuMmeMs“mdCmdfts
10-1142 North Carolina Department of Revenue
For calendar year or fleCal year beginning 11 13 12 and ending 12 31 12
Partners I Federal r
Partner's Warne, Address, and ZIP Code Partnerehip's Name, Address. and ZIP Code
BLUE CHIP CAPITAL LLC MIDWAY CADENCE LLC
27 HIGH TECH BLVD 270 LAFAYETTE STREET SUITE 409
THOMASVILLE NC 27360 NEW YORK NY 10012
THERE ARE NO ADJUSTMENTS OR CREDITS FOR THIS PARTNER
Individuals Fab' Form
Peale/shies Pao Rats Share Items Amount 0400 Enler Amount on:
All Partners
1. Share of partnership become (loss) -1115
2. Add tons to income (loss)
a. Addidon Wham depredation 0 Page 2. Une 35
b. Other additions to Income (loss) 0 Page 2, Line 36
3. Deductons Man Income nose)
a. Nabs:non for bonus depredation 0 Pape 2, the 44e
b. Other deductions from income (loss) 0 Page 2. Une 49
4. Share of tax credits 0 Form 0400TC
5. Sham of tax willefield from peonage compensation
dad for personal se dime Maned in N.C. 0 Page 2, Line 23
Nonresident* Only
6. Nonresident's share of N.C. taxable income (toss) 0 Page 2, Lyre 51
7. Nonresident's snare of net fax paid by me manager
of the partnership 0 Page 2. Une 24c
12-20-17
CONFIDENTIAL
SDNY_GM_00032036
EFTA_001 42649
EFTA01280129