It's a tax form that you're gonna get on syndications. Somebody recently just asked, am I going to get a 1099 as well, on these syndications that we're doing? No, you're not. The K-1 is going to have all of the information that you're going to need to be given your CPA to do what your CPA does. We are not CPA's. We are not financial planners, and none of the above, none of those. But we did learn a lesson about K-1's. And that's what we're talking about.
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March 15 is important for the partners, right? April 15 is important for the investors. Got it. So there's a two tier thing. We're in this deal, and we don't have our K-1 yet, and it is April 3rd, right now that we're actually recording this video. We were supposed to do our partnership return by March 15, so we filed an extension. Our investors in this particular deal need to file their taxes by 4/15, and it's now April 3rd, and we still don't have our K-1. Plus our CPA will need a two week turnaround to be able to get K-1's to our investors.
Here's the lesson learned, we're going to state in the letter of intent in order to do this deal with you, you're going to have to agree to these certain things. One of them is going to be, we need our K-1 early because we need to be able to do our returns in order to kick out the K-1's to our investors. And we can't do that if you give it to us at the last minute.
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