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5674aheath
New Member

Energy Transfer LP (ET) what is the passive loss limitations to tiered PTP's

Energy Transfer LP has listed 4 PTP's, do I take all of them as passive losses

1 Best answer

Accepted Solutions
nexchap
Level 8

Energy Transfer LP (ET) what is the passive loss limitations to tiered PTP's

Each of ET's sub-PTPs must be entered separately, and treated as separate K-1s.  You'll see that they each have their own FEIN, and that's what you use to identify each of them.  The passive losses from each can't be combined.

Note that top level info (like Section L capital account) can just be entered for the ET PTP, leaving it blank for the others.

**Say "Thanks" by clicking the thumb icon in a post
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer. seasoned, TurboTax user. Use any advice accordingly!

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2 Replies
nexchap
Level 8

Energy Transfer LP (ET) what is the passive loss limitations to tiered PTP's

Each of ET's sub-PTPs must be entered separately, and treated as separate K-1s.  You'll see that they each have their own FEIN, and that's what you use to identify each of them.  The passive losses from each can't be combined.

Note that top level info (like Section L capital account) can just be entered for the ET PTP, leaving it blank for the others.

**Say "Thanks" by clicking the thumb icon in a post
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer. seasoned, TurboTax user. Use any advice accordingly!
aheathcote
New Member

Energy Transfer LP (ET) what is the passive loss limitations to tiered PTP's

Thank you for answering my question, in a timely fashion.
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