Q: Where Can I get Help with IRS Form 8886.Not sure if I have a reportable transaction. 5 CPA's and IRS could not help
I have received a K-1 (form 1065) as part of a tax package associated with my investment in iShare S&P Commodity-Index Trust. My financial advisor purchased 256 dollars of the EFT, and sold 2 shares at 16 dollars each. Those are all the actions related to the ETF from my transactions. The investment is in a IRA account. On form K-1 there is an AH with -10.
Could you direct me to how I can get help with this form and determine if I am required to send Form 8886 to IRS and Help filling it out if necessary.
No net short term gain or long term gain, no interest income, other income/loss (-15)
Thank you,
A: The reason you have been unable to get any free advice or help from the 5 CPAs and the IRS is probably because the amount of money involved is to small. Asking lawyers is a waste of time too. De minimus non curat lex.
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