k1-generator

# K1 Generator ## Overview The K1 Generator skill produces Schedule K-1 tax documents for limited partners, handling complex tax allocations including carried interest treatment under IRC Section 1061. It ensures accurate, timely tax reporting for fund distributions. ## Capabilities ### K-1 Preparation - Generate Schedule K-1 forms - Calculate partner tax allocations - Handle tiered partnership structures - Support state K-1 requirements ### Tax Allocation - Allocate income by character (ordinary, capital gains) - Handle qualified opportunity zone provisions - Apply Section 1061 carried interest rules - Manage tax basis tracking ### Distribution Reporting - Report distributions to partners - Track return of capital vs. gains - Handle installment sale treatments - Manage escrow release allocations ### Compliance Support - Generate required tax schedules - Support LP tax planning - Provide allocation explanations - Track filing deadlines ## Usage ### Generate K-1s ``` Input: Fund activity, partner data Process: Calculate allocations, generate forms Output: K-1 documents by partner ``` ### Calculate Tax Allocations ``` Input: Fund income/loss, allocation provisions Process: Apply allocation methodology Output: Partner allocation schedules ``` ### Handle Distribution Reporting ``` Input: Distribution data Process: Classify and allocate Output: Distribution reporting schedules ``` ### Prepare State K-1s ``` Input: State allocation data Process: Generate state-specific ...