Tax Forms and K-1s
Understanding K-1 tax forms and your Tax Center
Each year, you may receive K-1 tax forms for your investments. Here is what they are, when to expect them, and where to find them.
What Is a K-1?
A K-1 (Schedule K-1) is a tax form that reports your share of income, deductions, and credits from an SPV investment. Since each SPV is a pass-through entity, the income or losses flow through to you as an individual investor. You use the K-1 when filing your annual tax return.
Each SPV you are invested in generates its own K-1, so you may receive multiple K-1 forms if you have multiple funded investments.
When Is a K-1 Issued?
A K-1 is issued for every investment the year the funding round closes. This is the initial K-1 that reports the activity from that first year.
After that initial year, you will not receive a K-1 for an investment in subsequent years unless a taxable event occurs. A taxable event is any event that creates reportable tax activity for the SPV, for example a distribution, a sale of shares, or other income or loss events.
If no taxable event occurs in a given year, there is nothing to report and no K-1 will be generated for that investment for that year. This means it is completely normal to receive a K-1 one year and not receive one the next.
Your Tax Center
Your Tax Center is in the sidebar. It is organized into sections so you can focus on one thing at a time.
Visit your Tax Center to:
- See an overview of your tax year at a glance, including K-1 coverage and key figures
- Track every K-1 (expected, received, or not required) in the K-1s section
- Review your positions and capital account roll-forwards
- See taxable events for Play Money investments, grouped by month
- Follow QSBS holding clocks for outside positions
- Download available K-1 forms and tax summaries
Platform tax data is free. Blended views that include outside positions, imported K-1s, external capital accounts, and QSBS clocks are part of Play Money Pro.
Tax Center Sections
Pick a section from the nav, then use the year selector. If you are on Pro and have outside data, you can also filter All / Play Money / External:
Overview
A glance at your tax year: K-1 coverage, key figures, and links into every section.
K-1s
Track every K-1 with download and upload actions. Outstanding rows stay on top.
Positions
Your managed investments with invested amounts, close dates, and K-1 status.
Capital accounts
Basis roll-forwards for managed positions and Item L figures from imported K-1s.
Activity
Every taxable event for the year, grouped by month. Play Money investments only.
QSBS
Five-year holding clocks and rollover windows for outside positions. Dates only, not tax advice.
The K-1 Tracker
Statuses you will see:
| Status | Meaning |
|---|---|
| Waiting | A K-1 is expected but not in yet |
| Estimate in | An estimate arrived; the final is still pending |
| Received | The K-1 file is on record |
| Amended (replaces prior) | A later K-1 replaced an earlier one |
| Not required | You marked this fund as not issuing a K-1 for the year |
On outstanding rows you can Upload K-1 (opens portfolio import) or Not required. If you marked something by mistake, expand the settled list and use Mark expected.
Badges show whether a row is Play Money or an outside marketplace (AngelList, Carta, and so on) when known.
When Will I Receive My K-1?
K-1 forms are typically available by March 15 for the prior tax year. For example, your 2025 K-1 forms would be expected by March 15, 2026. You will receive a notification when your forms are ready.
Timing can vary:
- Some SPVs may need additional time to prepare financials
- If an extension is filed, K-1s may arrive later in the year
- K-1 forms are only generated for investments where the funding round has closed
- In subsequent years, a K-1 is only issued if a taxable event occurred
During tax season, you may get a weekly email listing expected K-1s that are still missing. It links back here so you can upload or chase them.
Where to Find Your K-1s
Your Tax Center tracks coverage and downloads for the year.
Documents holds tax files by year, plus accountant packages and capital account exports.
On a Play Money investment, look in the Documents section for "K-1 Tax Form" with the tax year.
Tax Status Updates (Play Money K-1s)
Platform-issued K-1 documents go through several statuses:
- Pending: The K-1 is being prepared but is not yet available
- Generating: The K-1 is being generated and will be available shortly
- Available: Your K-1 is ready to download
You will receive email notifications as your K-1 forms become available.
Using Your K-1
Download your forms
Download K-1s from Tax Center, Documents, or individual investment detail pages. Use the accountant package when you want everything for a year in one ZIP.
Share with your tax advisor
Provide the forms to your tax advisor or use them when preparing your tax return.
Report the income
Follow the K-1 instructions for which lines correspond to which sections of your tax return.
Play Money does not provide tax advice. If you have questions about how K-1 income or QSBS affects your tax situation, consult a qualified tax professional.
Common Questions
Why do I not have a K-1 yet? K-1 forms are generated after the SPV's financials are finalized. If still showing as Pending, the accounting is still in progress. K-1s are typically ready by March 15, but delays can occur.
Do I get a K-1 every year? Not necessarily. You will receive a K-1 for the year the funding round closes. In subsequent years, you will only receive a K-1 if a taxable event occurs. Visit your Tax Center to see whether a K-1 is expected for a specific investment in a given year.
What is a taxable event? Any activity within an SPV that creates reportable tax activity, for example a distribution, a sale of shares, or other income or loss events. Play Money taxable events appear in Tax Center → Activity.
What if I invested through an entity? The K-1 is issued to the investment profile that made the investment. If you invested through an LLC, the K-1 is issued to the LLC, not to you personally.
Should I wait for my K-1 before filing taxes? If you have funded investments from the prior tax year, it is generally advisable to wait for your K-1 forms before filing, or file an extension. Check Tax Center and consult your tax advisor.
Can I download all my K-1s at once? Yes. In Tax Center or Documents, download the accountant package ZIP for the year. Outside-position files in that package require Play Money Pro.