I transferred my MLP units from an old taxable account to a new taxable account and received 2 K1s as the result.
1) How do I enter there 2 K1s? Separately or there is a way to combine them and enter the results once?
2) Since the K1 for the old account is the final K1 I received for that account do I need to do some sort of close out for that account?
3) How do I go about carry forward passive loss I have accumulated in the old account to the new account?
Thank you
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If all you did was transfer the units, you should be able to simply add the numbers on the two K-1s together and enter them into TT as though you received a single K-1. Within TT, you could do that by using the "Add Supporting Details" option on each entry, and then enter the two numbers there (I like doing it that way as it makes double-checking things easier).
If all you did was transfer the units, you should be able to simply add the numbers on the two K-1s together and enter them into TT as though you received a single K-1. Within TT, you could do that by using the "Add Supporting Details" option on each entry, and then enter the two numbers there (I like doing it that way as it makes double-checking things easier).
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