Supports Tax processing for U.S. investment partnerships, including allocations by both full netting and partial netting. The system can be used to support synchronous book and tax processing, when performing break period allocations.
Allows setting up of Annual Aggregation funds as stand- alone tax funds using Weighted Average Capital percentages. HedgeTek can incorporate the necessary tax adjustments such as M-1, Reclass adjustments.
Accounting for Built in Gain Loss on Contributed Securities
Additional U.S. Tax Functionality includes: Comprehensive stuffing provisions on all redemptions for investors redeeming from the fund; Stuffing overrides to adjust automated calculations. The system also has the ability to designate and sequence specific gain/loss items for stuffing allocations besides pro-rata basis.
Generates Federal K-1 for a single or all of the investors at the end of any break period or tax year end