Llc Partnership K1 Dispute

Summary

Partners in an LLC are entitled to receive a Schedule K-1, which reports their share of the LLCs income, deductions, and credits. If a partner is wrongfully excluded, they may have a claim for breach of fiduciary duty or wrongful expulsion. In California, partners cannot sell another partners shares without their consent or knowledge. If you cannot afford a lawyer, you can seek help from legal aid societies, law school clinics, or pro bono services. Contact the California Legal Services Program at 1-800-735-2929 for free legal assistance.

Full Conversation

The LLC I’m partnership in refused to issue my K1 this year what do I do?
Have you tried discussing this issue with the other partners or the LLC's management?
Generally, partners in an LLC are entitled to receive a Schedule K-*, which reports their share of the LLC's income, deductions, and credits.
No
It's advisable to start by discussing this issue with your partners or the LLC's management. If that doesn't work, you may need legal assistance.
The manager said I suddenly not part of the partnership
What proof do you have of your partnership in the LLC? It's important to have documentation such as a partnership agreement or any written communication acknowledging your role.
The certificates
Do you have any written agreement or contract that states your role and share in the LLC?
And previous k1
Do you have any written communication or agreement that states the reason for not issuing your K1 this year?
No
What state is your LLC registered in? Different states have different rules regarding LLC partnerships and disputes.
What can I do
What state is your LLC registered in? This will help me provide you with more specific information.
CA
What is the name of your LLC? In California, if a partner is wrongfully excluded, they may have a claim for breach of fiduciary duty or wrongful expulsion.
Yea
What is the name of the partner or manager who refused to issue your K1?
Occidental investments group LLC
What is the name of the manager who refused to issue your K1?
Kevin cheung
What was the reason given by Kevin Cheung for not issuing your K1?
Can’t see your response sorry
I'm sorry for the inconvenience. I asked, "What was the reason given by Kevin Cheung for not issuing your K1?"
They said my shares were sold
Do you have any documentation or proof of this sale? In California, partners cannot sell another partner's shares without their consent or knowledge.
No
What steps have you taken since you found out your shares were sold?
Contacted the police
What was the police's response to your situation?
They referred me to the detectives
What was the outcome of your discussion with the detectives?
Not happened yet
What was the date when you were informed that your shares were sold?
Yesterday
What was the last date you received your K1?
Can’t see
I'm sorry for the inconvenience. I asked, "What was the last date you received your K1?"
Up to year *
What was the date of your last communication with Kevin Cheung regarding this issue?
No communication it’s mostly via my sister which is her ex
What was the content of the last communication between your sister and Kevin Cheung regarding this issue?
I don’t have join convuwith them
What is the nature of your sister's involvement in this issue?
Sorry can’t see
I'm sorry for the inconvenience. I asked, "What is the nature of your sister's involvement in this issue?"
She and Kevin only wants additional shares goes to their kids even if it’s my shares
What proof do you have that your shares were transferred to their kids without your consent?
I don’t I was never allowed to see any documents except the yearly k1
Do you have any legal representation currently? It's crucial to consult with a lawyer in such cases. They can help you understand your rights and possible legal remedies.
No, I cannot financial afford
What is your financial situation? There are legal aid services available for those who cannot afford a lawyer.
Please let me know more
What is the total number of partners in your LLC?
I don’t know
In California, all partners should have access to the LLC's records. If you're denied access, you may have a claim for breach of fiduciary duty. Is there anything else I can assist you with?
Where can I get free legal help?
You can get free legal help from legal aid societies, law school clinics, or pro bono services from lawyers. In California, you can contact:

Legal Aid Foundation of Los Angeles


Phone: (*) *-*
Address: * W. 8th Street, Los Angeles, CA *
Website: www.lafla.org

Is there anything else I can assist you with?
Thank you so much!
You're welcome, ****! If you have any more questions in the future, don't hesitate to ask. Good luck with your situation.
This website no longer exists
I apologize for the inconvenience. You can try contacting the California Legal Services Program at *-*-*-* for free legal assistance. Is there anything else I can assist you with?
How do I print my previous tax returns in ca?
You can print your previous tax returns by logging into your account on the IRS website. If you used a tax software, you can also access your returns there.
Th
Do you need help with accessing your account on the IRS website or your tax software?
No thank you
Is there anything else I can assist you with?