> For the complete documentation index, see [llms.txt](https://docs.allocations.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.allocations.com/why-allocations/taxes.md). # Taxes The Taxes screen tracks the tax return for every entity you manage. Open it to check each filing against the year's deadlines. Investors see their K-1s on a separate Taxes screen in Portfolio. Consult your tax adviser on the returns themselves. ![](https://content.gitbook.com/content/9IirLidzibYpEfSBave3/blobs/MS5GcSWWn450r2vQ8Zqx/Unknown%20image) 1. **Filing timeline** Shows the four dated milestones of the tax year and which ones are complete. 2. **Partnership Representative banner** Recommends setting defaults at the account level, and links to Accounts. 3. **Search** Finds a return by typing the entity's name. 4. **Tax year selector** Sets the tax year the table and milestones describe. 5. **Status filters** Filter the table to entities at one of the 11 filing stages. 6. **Column headers** Label the five columns of the table, which holds one row for each filing entity. 7. **Filing status** Shows where one entity's return stands, from preparation through acceptance. 8. **Download Available 1065s** Downloads every completed return in one file. ### The filing timeline Four milestones sit across the top of the screen, each with a completion marker, and the dates follow the selected tax year. * **December to January:** The period for reviewing the year's activity before filing begins. * **January 31:** The deadline to record the year's activity on the platform, including transfers, expenses, purchases, closes, and distributions. * **March 15:** The initial filing deadline for partnership returns. * **September 15:** The extended filing deadline for entities that filed an extension. > **January 31 is the date to act on.** Record every transaction against its deal by then, so the year's activity flows into each return. ### The 11 statuses The filter row lists Under Review, Needs Approval, Ready for Approval, Pending Filing, Approved, IRS Submitted, Accepted, Passthrough K-1, No Activity, Terminated, and Archived. Three of these statuses need a short explanation: * **No Activity** marks a return for a vehicle with no transactions in the year, which still counts as a filing. * **Passthrough K-1** means the return is handled through another vehicle's K-1. * **Terminated** marks the entity's final return before it is dissolved. > Some returns show a status that has no filter, such as DRAFT. To find these, search by entity name. ### Partnership Representative defaults The banner above the filters recommends setting Partnership Representative defaults on the account. Every partnership return needs a Partnership Representative, so setting it once on the account fills it in for each new entity. Accounts are described in **Accounts**. ### The columns * **Entity Name:** The entity the return is filed for. Several deals on one entity share one return. * **EIN:** The entity's tax ID, with a dash until one is recorded. * **Extension Filed:** Shows whether an extension has been filed, with a dash until one is. * **Actions:** Opens the actions available for that entity's filing. > As March 15 approaches, sort on Extension Filed to find each entity still showing a dash. Each of those returns needs filing or an extension. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.allocations.com/why-allocations/taxes.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.