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EFTA01280320.pdf
AI Summary
This document contains 2013 tax forms (Schedule K-1) for Midway Sterling LLC showing partnership income distributions to Blue Chip Capital LLC. The partnership reported rental real estate losses of $4,385 and consulting fee deductions of $1,432. [Rating: 4/10 - Standard tax documentation showing business partnership structure and financial flows, but lacks notable figures or unusual transactions]
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Extracted Entities
| Name | Type | Context |
|---|---|---|
| Blue Chip Capital LLC | organization | Partner receiving K-1 distributions from Midway Sterling LLC, identified as a partnership entity |
| Midway Sterling LLC | organization | Partnership entity filing tax returns, located at 270 Lafayette Street Suite 409, New York, NY |
Full Text
2 651113 2013 Schedule K-1 Final 1(.1 I Amended K-1 OMB No. 15450099 (Form 1065) Part III Partners Share of Current Year Income, Fcr Mira. year 2013. ce rY Department of the Treasury yaw blow* JUNE 28, 2013 Deductions, Credits, and Other Items Infernal P.evenue Service e,,,, DECEMBER 31, 2013 1 Ordinary business income (loss) 15 Ciredits Partner's Share of Income, Deductions, 1 0. Credits, etc. p. See separate instruedons. ms 21.4atmW egftrrameNW -4,385 16 Foreign transactions 3 Other net rental income (IOW) Part I Information About the Partnership 1 A Partners,' 's employer identification number 4 Guaranteed payments 9 Partnership's name, address. city. stale. and ZIP code 5 Interest income 1 MIDWAY STERLING LLC 68 Ordinary dhidenas 270 LAFAYETTE STREET SUITE 409 17 Attemalim mn lax (AMT) items NEW YORK, NY 10012 (14 Qualified dividends A 290. C IRS Center where partnership Ned return E - ELLE 7 Royalties 16 Taxcempt income and D O Check if miss a publidy traded patnersr (PIP) Net shoretertn capital gain (loss) nondeductilite expenses C* 2. 9a Niel long.term capital gain (loss) Part II Information About the Partner E Partner's Identifying number 9b CrIleuibles (28%) gain (loss) 19 Distributions 20-3161309 A 444. F Partner's name, address, city, state, and MP cede ge Inrecaptured sec 1250 gain 29 Otrer information BLUE CHIP CAPITAL LLC 10 Net section 1231 in (loss) 11 Other income (loss) (1 0 General partner or LLC a] Limited partner or other LLC member-ranger member N C3EI Domestic Partner 0 Foreign partner 11 What type ol enbty is tho partner? PARTNERSHIP 12 Section 119 deduction O 12 If this partner is a retirement pan (IRA/SENKeoghfek.), chock here J Partners share of profit loss, and capitat 13 Other deductions Bestrode. Ending 1,432. Profit 0.8072920% 0.8072920% Loss 1.0416670% 1.0416670% Capital 1.0416670% 1.0416670% 14 Sell-employment earnings (loss) I( Partner's share of liabilities at year end: 0. Nenrecoxse 2,009. Oualified nonrocoome financing 50,311. *See attached statement for additional information. $ 0. Recoirse L Partners capital account analysis: Begirt Mg capital account 8 Cashel contributed during the year 25,000. Curren: year increase fceaease) -5,820.c S o Withdrawals 4 distneutions 4444co Ending capital account 18,736. o LL III Tax basis 0 GAAP Section 704(0) bock D Other (explain) M Did the partner contribute property with a bull-in gain or loss? 0 yes M No Itlet lateen statement (see instructionsi .c3.13 DIA For Paperwork Redaction Act Notice, see Instructions for Form 1065. IRS.govdonn tC65 Schedule K-I (Form 1065) 2013 2 08300315 758241 21146.22 tONFIDENTM It : LLC 21146_R1 SDNY_GM_00033199 EFTA_00143802 EFTA01280320 MIDWAY STERLING LLC SCHEDULE K-1 OTHER DEDUCTIONS, BOX 13, CODE W DESCRIPTION PARTNER FILING INSTRUCTIONS AMOUNT CONSULTING FEES 1,432. TOTAL TO SCHEDULE K 1, BOX 13, CODE W 1,432. SCHEDULE K-1 NONDEDUCTIBLE EXPENSES, BOX 18, CODE C DESCRIPTION PARTNER FILING INSTRUCTIONS AMOUNT NONDEDUCTIBLE EXPENSES - SEE IRS SCH. K-1 INSTRUCTIONS PASSTHROUGH 2. TOTAL TO SCHEDULE K-1, BOX 18, CODE C 2. SCHEDULE K-1 CURRENT YEAR INCREASES (DECREASES) DESCRIPTION AMOUNT TOTALS RENTAL REAL ESTATE INCOME (LOSS) -4,385. SCHEDULE K-1 INCOME SUBTOTAL -4,385. OTHER DEDUCTIONS -1,432. SCHEDULE K-1 DEDUCTIONS SUBTOTAL 1,432. NET INCOME (LOSS) PER SCHEDULE K-1 -5,817. NONDEDUCTIBLE EXPENSES -2. PREPAID RENTS - CY -1. OTHER INCREASES OR DECREASES SUBTOTAL -3. TOTAL TO SCHEDULE K-1, ITEM L 5,820. 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['edict'. es, Credit, and Other Items A I Frulys Federal Employer -dentifica:ion Number Income allocated and apportioned 100% Alabama • to be reported to Alabama by Alabama residents Hansen:irately stated ilICUITMI B Entry s name. address, city, slate, and 713 code MIDWAY STERLING LLC IUI . -4,385.ITA2E• 270 LAFAYETTE STREET SUITE 409 Mount or guaranteed payments to partner to be reported by the partner as NEW YORK, NY 10012 Alabama source Income (see InStnntions) PART II I Information About the OwneriSharehoider IW • C Owner s/Shareholder's identifying number Section 179 expense • 2o-3161309 0 • 102 • I) OwnersiShateholder's name Investment interest expense related to portico, Income •BLUE CHIP CAPITAL LLC P • IP2I E Owner's/Shareholder's strut address Po rtfolio income 4 • I MI* F Ofinet's/Shareholders - state. ZIP code Other expenses related to portfolio income • do not include interest expense • R • IR2 1* 8 • General partner or LLC • Limited partner or other EEC Charitable contributions member manager member S • I AS J • H What type of entity is this owneUrarcholder? Other separately stated business earns (attach schedule) • PARTNERSHIP T • —1,432.112 I • Tax exempt teltty Composite payment made on behalf of owner/shareholder (see instructions) I Cirners/Shareholder's percentage of profit and (loss) sharng • 0.8072920 U • H.S. income taxes paid (see instructional J Check if oymer/shareholdet Is a nonresident *Di( Nonresident If a nonresident, provide state of legal residence V • I v2 I • FLORIDA Casualty losses (see insnuctions) Chedic if the Gantt is a single member LLC. W • I W2 • • 0 Owner Withdrawals and distributions K Owner's basis at end of tax yew X • 444. • 18,736. Small business health insurance premiums (attach explanation) L 1. Credit for taxes paid to foreign country y • • Od and gas depletion 2. Heroes for Hire Credit r • Z • I z2 !• 3. Full Employment Act of 2011 Separately stated nonbusiness items (attach schedule) • AP. • 4. Capital Credit Alabama exempt income (attach explanation) • 5. Al. New Markets Oevelomrant Credit I /192i• • S. Enterprise Zone Cade • 7. Irrigation Credit A completed Alabama Schedule K-1 for each member in the Subchapter K • entity/S corporation must be attached to Form 65/Form 208. MWM09-1613 1019 CONFIDENTIAL SDNY_GM_00033192 EFTA 00143805 EFTA01280323 MIDWAY STERLING LLC AL 65 SCH. K-1 OTHER SEPARATELY STATED BUSINESS ITEMS AMOUNT DESCRIPTION -1,432. CONSULTING FEES PARTNER: 2 TOTAL TO SCHEDULE K-1, PART III, LINE T -1,432. PARTNER NUMBER 2 CONFIDENTIAL SDNY_GM_00033193 EFTA_00 I 43806 EFTA01280324 NC K-1 (39) 2013 Partner's Share of (D-403) N.C. Income, Adjustments, and Credits 1C-23-I3 North Carolina Department of Revenue Fo• calendar year or ?scat year beginning 06 28 13 ;nil ruling 12 31 13 Partner's Identifying Number Federal Em lo er ID 203161309 Partner's Name, Address• and ZIP Code Partnership's Name, Address, and ZIP Code BLUE CHIP CAPITAL LLC MIDWAY STERLING LLC 270 LAFAYETTE STREET SUITE 409 NEW YORK NY 10012 Individuals Filing Form Partnershij s Pro Rala Shale Huns Amount D•400 Enter Amount on: All Partners 1. Share of corincisho motile (loss) -4385 2. Additions to income (loss) a. Additon for bores depreciation 462 Page 2, line 35 b. Curer additions to incorre :loss) 0 Page 2,1 kw 38 3. Deductions from income (loss) a. Deduction for bonus dep•eciation 0 Page 2,1r te 46 b. Cher deductions from income (loss) STMT 1432 Page 2, Line 51 4. Share of tax cred is 0 118[8D-4001C 5. Share of tax withheld from rormage compensation paid fa personal services performed in N.C. 0 P&p 2, line 23 Nonresidents Only 6. hosresidat.'s share of N.C. taxable income (loss) 0 Page 2, line 53 7. tic hiesidorr's share of net tax Mid by me manager of tie partnership 0 Page 2, Line 24c 300201 CONFIDENTIAL SDNY_GM_00033194 EFTA_00 I 43807 EFTA01280325 MIDWAY STERLING LLC NC SCH K-1 DEDUCTIONS FROM FEDERAL TAXABLE INCOME DESCRIPTION AMOUNT CONSULTING FEES 1432 TOTAL TO SCHEDULE K-1, LINE 3B 1432 CONFIDENTIAL PARTNER NUMBER 2 SDNY GM 00033195 EFTA_00 I 43808 EFTA01280326