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Common Hedge Fund Year-End Tax Considerations  


Author:  David F. Earley.


Source: Volume 27, Number 03, Spring 2010 , pp.57-67(11)




Journal of Taxation of Investments

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Abstract: 

The past year has seen no shortage of legislative activity, with comprehensive tax and regulatory reforms being introduced. While the extent of modification to the existing tax and regulatory framework is not yet clear, many funds are proactively reviewing procedures to limit the operational risk associated with the compliance process. This article highlights several areas of the year-end tax reporting process that many hedge funds will encounter. A concerted effort on the items listed can reduce the risk of tax noncompliance, help ensure timely distribution of the year-end audit and investor K-1’s, and reduce the chance for penalties related to underreporting taxable income.

Keywords: Qualified Dividend Income; Informational Filings; Wash Sales; Constructive Sales; Straddles; ASC 740

Affiliations:  1: Deloitte Tax LLP.

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