I got a letter from foresight yesterday showing corrections on the schedule K-1. The original ordinary business income showed $282,021. The new one shows corrected ordinary business income as a loss of $2611. It didn't say what I owed in taxes now but I would say very minimal if anything. Originally they were stating $107,000.
My CPA looked into it and said we did, in fact, owe the taxes. The letter received from Foresight showed operational income at a slight loss which is why our tax liability dropped from $44k to $8k. I would appreciate any update if your accountant comes back with a different response.
my original number was just a little less than that number. but they then sent me a letter months later stating I was at a loss.. I can't imagine after all this they are still sending you the incorrect numbers.... read my last post
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