Tax Inbox

Delta Air Lines sent a SkyMiles Award Trip confirmation for passenger Melissa Furness Hendershot. The email contains confirmation number JQG5R9 and Delta reference #9369899910, confirming an award redemption flight booking. The passenger can manage the itinerary through Delta's website or app.

Flight receipt from Delta Air Lines for passenger Melissa Furness Hendershot dated 28 June 2026. Confirmation number F6BP8U, Delta flight #312 with seat 410A. SkyMiles member confirmation #9369899910. Standard transactional receipt confirming air travel purchase and providing flight details and options to adjust or cancel.

Delta Air Lines flight receipt for Hans Hamilton Hendershot. Confirmation number F6BP8U, Delta flight 31241, dated 28 JUN 26. Contains SkyMiles member information (Diamond status). Customer can manage or cancel itinerary via Delta website or app.

Flight receipt from Delta Air Lines for Hans Hamilton Hendershot. Confirmation number F6BP8U for flight DELTA 31241 departing 28 June 2026. Diamond Medallion status. Receipt contains passenger details and SkyMiles information. Email provides options to manage itinerary via Delta's website or app.

Delta Air Lines sent Hans an eCredit voucher notification dated May 24, 2026. This appears to be a travel credit or airline voucher that can be used for future flights. No specific dollar amount is stated in the snippet provided.

Delta Air Lines sent Hans Mitchell Hendershot a SkyMiles Award Receipt confirmation (Confirmation Number F6XFV6) for an award trip booking. The email contains flight details and instructions to manage the itinerary via the Delta app or website. This is a travel receipt/booking confirmation with award miles redemption.

Delta Air Lines sent an award trip confirmation receipt for SkyMiles member. Passenger name: MEGHAN FAITH HENDERSHOT. Confirmation number F6XFV6, Delta reference #9470654048. Email confirms flight booking with SkyMiles award redemption and provides options to manage the itinerary via delta.com or the Fly Delta app.

Delta Air Lines award trip confirmation email for SkyMiles member CLAIRE SADIE HENDERSHOT. Confirmation number F6XFV6, award receipt #9220765722. Email confirms flight booking and provides itinerary management options via Delta's website and app. No financial amount visible in provided snippet.

Delta Air Lines sent a SkyMiles Award Trip confirmation for passenger Claire Sadie Hendershot (Confirmation #F6XFV6, SkyMiles #9220765722). This is an award receipt confirming a frequent flyer award flight booking. The email contains itinerary details and allows modifications via delta.com or the Fly Delta app.

Wells Fargo account statement notification for Mckenna's Checking account ending in 4852. Automated alert from Wells Fargo inviting Hans to review his monthly statement for spending analysis and planning.

Wells Fargo statement notification for account ending in 8307. This is a monthly account statement alert from Wells Fargo, notifying the account holder (name starts with "Melissa") that a new statement is available for review. The email is a routine financial statement notification.

Wells Fargo account statement notification for Meghan's Checking account ending in 4845, dated May 2026. This is a standard monthly account statement alert from Wells Fargo notifying the account holder of a new statement available for review.

Wells Fargo account statement notification for account Mitchell ...2531, dated May 27, 2026. This is an automated alert notifying the account holder of a new monthly statement available for review. Standard financial institution statement notification with no action items beyond account review.

Wells Fargo account statement notification for account ending in 9550. This is a monthly statement alert from Wells Fargo encouraging Hans to review his spending from the previous month. The email contains standard formatting and a call-to-action to view the full statement online.

Email from Wells Fargo ([email protected]) notifying Hans that a new monthly statement is available for Claire's Checking account ending in 6451. The email is dated May 30, 2026, and invites review of the previous month's spending and planning. This is a standard bank statement notification.

# Equity Desk → Tax Desk: Deferred Revenue — Year 1 (TY2026 Calendar-Year Return) ## What this is Year 1 deferred-revenue recognition line for Tax Desk's TY2026 binder. Written by Equity Desk (Phase 5d). Planning estimate only — EB's confirmed figure governs. > **Reporting note:** This income is reported on Hans's **2026 calendar-year personal return**, beginning from the partnership close date through 12/31/2026. ## Line item | Field | Value | |---|---| | Type | **Ordinary income** | | Year | TY2026 (Year 1 of 4) — Hans's calendar-year return | | Planning estimate | **~$170,952** | | Basis | 25% × $683,808 anchor net deferral | | Anchor math | $684,918 cash-basis deferral − $1,111 goodwill timing = $683,808 | | Status | **ESTIMATE — confirm deferred-revenue base with EB at close; EB's year-by-year K-1 reporting governs** | | Character | Ordinary income (cash-to-accrual recognition) | | Period | Partnership close date → 12/31/2026 | | Separate from | Capital gain + §751 ordinary income on the C-unit sale — this is an additional item | ## Incremental tax (planning estimate only) | Tax | Rate | On ~$170,952 | |---|---:|---:| | Federal (ordinary) | 37% | ~$63,252 | | Utah | 4.55% | ~$7,778 | | **Total incremental** | **41.55%** | **~$71,051** | This is **in addition to** estimated tax on the capital gain and §751 ordinary income from the C-unit sale. ## Estimated-tax timing — 2026 calendar year | Quarter | Due date | Status | |---|---|---| | Q1 | 4/15/2026 | May be underfunded if close is after Q1 | | Q2 | 6/16/2026 | May be underfunded if close is after Q2 | | Q3 | 9/15/2026 | **Catch-up here** if Q1/Q2 were underfunded | | Q4 | 1/15/2027 | Final 2026 calendar-year payment | > **2026 timing risk:** If the transaction closes after Q1 or Q2 payment dates, those quarters were likely underfunded. Adjust Q3 (9/15/2026) and Q4 (1/15/2027) to catch up. Confirm with EB whether underpayment penalty applies for Q1/Q2. ## Tax Desk actions - [ ] Include ~$170,952 in TY2026 calendar-year ordinary income estimate - [ ] Add ~$71K to TY2026 tax reserve (in addition to gain-related reserve) - [ ] Confirm deferred-revenue base ($683,808) with EB at close; update estimate if different - [ ] Assess Q1/Q2 underpayment after close date is known; adjust Q3/Q4 payments - [ ] Log confirmed Year 1 amount in `canonical/equity/transaction-2026/deferred-revenue.md` ## Recurring cadence (Years 2–4) Equity Desk will drop the next year's deferred-revenue line into `inbox/tax/` each January (2027, 2028, 2029) for Tax Desk pickup. Do not calendar this manually — watch `inbox/tax/` in January each year. ## Source of truth Full recognition schedule: `canonical/equity/transaction-2026/deferred-revenue.md` (Tier A — strictly confidential)

# Equity Desk → Tax Desk: K-1 Stub — TY2026 Personal Return (EB / Parent Co) ## What this is A Tax Desk routing envelope for the K-1(s) that will flow into Hans's **2026 calendar-year personal return** from the Eide Bailly / Parent Co partnership interest. Written by Equity Desk (Phase 5d) to unblock Tax Desk binder assembly. **Status: Pending — deal unsigned as of 2026-06-02. K-1 will not issue until close + fiscal year-end.** ## Reporting basis — critical clarification | | | |---|---| | **Hans's personal return** | Calendar year (Jan 1 – Dec 31, 2026) | | **EB / Parent Co fiscal year** | Ends April 30 (5/1/2025 – 4/30/2026) | | **How it flows** | The K-1 for the EB partnership fiscal year ending **4/30/2026** is reported on Hans's **2026 calendar-year personal return** — standard pass-through rule (partner reports the partnership year that ends within the partner's tax year) | > **Fiscal-year risk:** Parent Co keeps the April 30 year only if the 25%-gross-receipts test is met. > If the test fails, Parent Co is forced to a **calendar year** — which could produce **two K-1s on the same 2026 return** (short fiscal-year K-1 + calendar-year K-1 → income bunching). Flag open in open-questions.md. ## What to expect | Field | Value | |---|---| | Entity | Eide Bailly LLP / Parent Co (name TBD at close) | | Partner type | Tax/advisory partner → **one K-1** from Parent Co (if fiscal year test passes) | | EB fiscal period on K-1 | 5/1/2025 – 4/30/2026 (full year, with year-end adjustments) | | Reports on | Hans's **2026 calendar-year** personal return | | Expected arrival | After EB fiscal year close (April 30, 2026) + processing lag | | Character split | Capital gain (§741) + ordinary income (§751 hot assets) — split TBD, EB to provide | | Deferred revenue | Year 1: ~$170,952 ordinary income (25% × $683,808 anchor) — see companion envelope | | §752 liabilities | Confirms at close — FY2025 K-1 showed ~$365,071 total liabilities | ## Tax Desk actions (when K-1 arrives) - [ ] Route to CPA (Kaizen / Shelly Miller) as a primary TY2026 document - [ ] Confirm this is reported on the **2026 calendar-year personal return** (not 2025) - [ ] Confirm ordinary vs. capital split with §751 hot-asset allocation from EB - [ ] Verify deferred-revenue Year 1 amount matches EB's confirmed recognition schedule - [ ] Check fiscal-year test result — one K-1 or two on the 2026 return? - [ ] Update `canonical/tax/binder/2026/` with confirmed figures - [ ] Cross-reference open-questions.md PE Transaction section for remaining flags ## Source of truth Full CPA workpaper: `canonical/equity/transaction-2026/workpaper-TY2026.md` (Tier A — strictly confidential)