Tax Forms and K-1s
Understanding K-1 tax forms and the tax summary page
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 the best place to understand your tax situation. It shows all taxable events across your investments, so you can see exactly which investments had reportable activity and whether you should expect a K-1 for a specific investment in a specific year.
Visit your Tax Center to:
- See all taxable events for each investment
- Check whether a K-1 is expected for a given investment and tax year
- Download available K-1 forms and tax summaries
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.
However, timing can vary:
- Some SPVs may need additional time to prepare financials, which can delay K-1 delivery
- 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 — check your Tax Center for details
Where to Find Your K-1s
Navigate to your portfolio, click on a specific investment, and look in the Documents section. If a K-1 is available, it will appear as "K-1 Tax Form" with the relevant tax year.
Your Tax Center provides a central view of all your tax-related documents and taxable events across every investment. Access it by clicking "Taxes" in the user menu (under your avatar) or navigating directly from your portfolio.
The Tax Center
The Tax Center is your one-stop destination for tax season. It shows all taxable events across your investments, so you always know what to expect:
Year selector
Choose which tax year you want to view. You can look back at previous years.
Taxable events and investments
See all investments with taxable activity for the selected year, including company name, amount, taxable events, and tax document status.
Download options
Download individual K-1 forms, export a CSV summary, or download all documents as a ZIP file.
Tax Status Updates
Your 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 the Tax Summary page or individual investment detail pages.
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 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 — this is your initial K-1. In subsequent years, you will only receive a K-1 if a taxable event occurs for that investment (such as a distribution, sale, or other reportable activity). If there is no taxable event, no K-1 is issued. 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? A taxable event is any activity within an SPV that creates reportable tax activity — for example, a distribution to investors, a sale of shares, or other income or loss events. All taxable events are visible in your Tax Center, so you can always check whether an investment had reportable activity in a given year.
How do I know if I should expect a K-1 for a specific investment? Visit your Tax Center. It shows all taxable events for each of your investments by year, so you can see exactly which investments will generate a K-1 and which will not.
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 your Tax Center to see if any K-1s are expected, and consult your tax advisor.
Can I download all my K-1s at once? Yes. In your Tax Center, use the "Download" option to get all available tax documents for a selected year as a ZIP file.
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