K-1 Frequently Asked Questions
It’s that time of year – tax time – and we understand you may have questions about the K-1s. Please see our frequently asked questions below.
As always, you can email Investor Relations at [email protected] for assistance.
Frequently Asked Questions
All AV fund investors can expect to view/download your 2021 fund K-1s via your AV Investor Portal by March 31. We will notify you on or before 3/31 to confirm all of your K-1s are ready.
All AV unitholders can expect to receive 2021 K-1s the week of April 11. We will email all unitholders when ready.
K-1s require accurate and complex analysis of tax implications related to all 900+ portfolio companies. It’s quite rare to receive any K-1s prior to normal tax deadlines. Each year, we make this a top priority because we know it makes a difference to our investors.
It’s possible that some K-1s will be available in our investor portal prior to 3/31. You can check by logging in, click on the “Access K-1s” on your Message Center, or click “Documents & Tax Statements” in the top navigation bar and then scroll down to “Tax Statements.”
If it’s not there, we assure you that your AV fund K-1s will be on or before March 31.
All investors will have the ability to receive their K-1s online. We will notify you when it’s ready on or before March 31, 2022.
Your investment in 2022 will be reflected on your tax year 2022 Schedule K-1 which will be delivered in March 2023.
K-1 forms will be generated for any investments made via retirement funds and uploaded to your AV Investor Portal. Please consult your tax advisor to determine your filing requirements.
Please consult your tax advisors on your personal filing requirements.
For tax year 2021, non-US investors will receive a Schedule K-1 for their investment.
If your address has changed, there is generally no need to re-issue your K-1 for an address change as the IRS keys off your Taxpayer Identification Number for tax matters. If you would like to update your Primary Residential Address with Alumni Ventures you can do so in your online investor portal under “My Settings.”
- I subscribed jointly with another investor, where do we find the K-1 for their portion of our investment?
As joint investors, both you and your co-subscriber own an equal split (50%) of the total investment – as reflected on your separate K-1’s. Each of you also have your own mutually exclusive Investor Portal login. As joint investors, you will each receive an individual K-1 for your proportional ownership of the investment within your individual Investor Portals.
If you suspect an error, please email our Investor Relations at [email protected].
We suggest you consult your tax advisor as we cannot provide tax advice. However, it is our understanding the answer is no if you are not a Massachusetts resident and your only passive income from MA is a result of your investments in Alumni Venture funds or the management company, Alumni Ventures Group, LLC.
This a new schedule created by the IRS for tax year 2021 and onward. The Form 1065 Schedule K-3 reports an investor’s distributive share of items of international tax relevance and is an extension of the Form 1065 Schedule K-1. It replaces line 16, portions of line 20, and numerous unformatted statements attached to prior versions of the Schedule K-1 Form 1065, Schedule K-1. You are getting a Schedule K-3 because the fund is required to report an investor’s distributive share of items of international tax relevance. Please consult your tax advisor.