Knowledge Base

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Knowledge Base

My Taxes 🧮

My Taxes 🧮

Masterworks and Masterworks Advisers do not provide tax, legal, or accounting advice. Information below should not be relied upon for those purposes.

General Taxes

Are my investments set up to be tax-efficient?

How will my investment be taxed?

K-1s and Tax Documents

What is a K-1?

Where is my K-1?

Why am I receiving a K-1?

Do I have to send my K-1s to the IRS?

I received a K-1 and there is income on Page 1 in Box 11. What do I need to do with this K-1?

I received a K-1 but there is no income on Page 1 in Box 11. What do I need to do with this K-1?

Why wasn't a K-1 issued for all my investments?

I received a K-1 and a 1099 for the same payout on my investment.

My information is wrong on my K-1.

Why did I get a Form 1099?

See more

I use tax software, like TurboTax, TaxSlayer, etc

A Step-by-Step guide to reporting Income from your Masterworks K-1 when using Free Tax USA

[Manual] Using TurboTax: A Step-by-Step guide to reporting Income from your Masterworks K-1

Can I import my K-1s using TurboTax, TaxSlayer, H&R Block or similar?

International Taxes

I’m an international investor, what about my taxes?

Do I need to file form 5471?

Do I need to file form 8621?

Other Taxes

What is the First-in First-out (FIFO) method of accounting?