Year-End Taxes: K-1s, Records, and What You'll Receive

The basics

Because every Slivvy asset is owned by an LLC and you're a member, you'll generally receive a Schedule K-1 from each LLC you have an interest in. K-1s report your share of the LLC's income, losses, and certain deductions for the year.

What Slivvy provides

• Annual K-1 per co-owner per LLC, generated and delivered through your Document Vault
• Purchase records and share basis — your original cost, fees rolled into the share, and any subsequent activity
• Payment history — every fee, reserve contribution, overage, and reimbursement, exportable to CSV
• Operating Agreement and amendments — sometimes requested by accountants
• Capital improvement records — relevant for depreciation and basis adjustments

What Slivvy doesn't do

• Tax advice — talk to a CPA who understands LLCs and fractional ownership
• Depreciation strategy — Slivvy provides the records; you and your accountant decide aggressive vs. conservative
• Tax filing — you (or your accountant) file your personal return

When K-1s arrive

K-1s are typically delivered in March, before the standard April filing deadline. You'll get an email and in-app notification when each one is ready. If you've extended your return, the K-1 is available in your Document Vault immediately when finalized.

Where to find tax documents

Open Document Vault → Tax. Each year is organized in its own folder, with K-1s separated by asset.

Sharing with your accountant

• Download a single K-1, or
• Export all tax documents for a given year as a ZIP, or
• Use document sharing permissions to give your accountant view-only access to a folder

Selling shares mid-year

If you sell shares during the tax year, your K-1 will reflect activity through your exit date and include relevant gain/loss information. Keep your share-purchase records — your accountant will need your cost basis to calculate the gain.

Questions

For tax questions specific to your situation, talk to a qualified CPA. For questions about a document Slivvy provided (or didn't), contact support.