Real Estate K-1s — Here’s What My Depreciation Really Looks Like

By Dr. James M. Dahle, WCI Founder

One of the big deterrents for white coat investors to invest in private real estate investments, such as private funds and syndications, is that they have to deal with the tax form known as the “K-1” when it comes time to file taxes. K-1 is derived from Schedule K on IRS Form 1065, the Partnership Tax Return form. Investors wonder if the K-1s will arrive on time, or if they will have to file an extension. They wonder if they will be required to file in multiple states. They also wonder how much depreciation they really get, especially in the first year during these “first-year accelerated bonus depreciation” years (2022 is the last year of that, barring a change in the law.) Let’s answer some K-1 questions today and, even better, use some of my own personal investments to show you the truth behind this K-1 game.


Will I Have to File Extensions?

The answer to this one is easy. Yes, you will almost surely have to file a tax extension

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This article was written by The White Coat Investor and originally published on