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An MLP that I owned in 2016 has numbers for Line 13T1,2,3,4,5,6, and 7. I cannot find how to enter those numbers into TurboTax. Do I need to report these?

 
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Accepted Solutions
ToddL
New Member

An MLP that I owned in 2016 has numbers for Line 13T1,2,3,4,5,6, and 7. I cannot find how to enter those numbers into TurboTax. Do I need to report these?

These entries are very unlikely to affect your tax return, however, you can enter them.

In the K-1 interview, check that you have Box 13 values.

When you come to Box 13, just enter the "T" Code (no amount), and select "Continue" (see attached sample screen).

The following two screens allow you to enter the T1 to T7 entries. You'll have to interpret what your K-1 uses as "descriptions" for these entries and what is in TurboTax (see attached sample screens).

(In any event, the amounts are highly unlikely to have any affect on your return)

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1 Reply
ToddL
New Member

An MLP that I owned in 2016 has numbers for Line 13T1,2,3,4,5,6, and 7. I cannot find how to enter those numbers into TurboTax. Do I need to report these?

These entries are very unlikely to affect your tax return, however, you can enter them.

In the K-1 interview, check that you have Box 13 values.

When you come to Box 13, just enter the "T" Code (no amount), and select "Continue" (see attached sample screen).

The following two screens allow you to enter the T1 to T7 entries. You'll have to interpret what your K-1 uses as "descriptions" for these entries and what is in TurboTax (see attached sample screens).

(In any event, the amounts are highly unlikely to have any affect on your return)

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