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Level 2
posted Jun 1, 2019 1:07:10 PM

How to enter two K-1s with same FEIN for same tax year

In Oct. ETP L.P. ceased to be a PTP and was taken private and merged with ET L.P.  My 2018 K-1 for ETP (I guess through date of merger) has 2 subsidiaries (ETP and USAC) with separate FEINs and I entered data for each into 2 separate turbo tax K-1s.  I've just received the 2018 K-1 for ET, (I guess from date of merger through end of year) which has 4 subsidiaries, two of which are ETP and USAC and both use the same FEIN after the merger that they did prior to the merger.  How do I deal with this in TT (Deluxe) now that I have K-1s from 2 different 2018 LPs containing financial data for the same FEIN subsidiaries?  Do I (1) prepare one K-1 with arithmetically merged numbers from both ETP and both USAC K-1s for each corresponding box, (2) prepare 2 separate K-1s for ETP and USAC, identifying them in the name section as pre vs. post merger, or (3) do something else?


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1 Best answer
Level 9
Jun 1, 2019 1:07:10 PM

You'd enter one K-1 for each FEIN, adding the numbers received from ETP and ET.

4 Replies
Level 9
Jun 1, 2019 1:07:10 PM

You'd enter one K-1 for each FEIN, adding the numbers received from ETP and ET.

New Member
Jun 1, 2019 1:07:11 PM

Would it also be necessary to combine the amts in Part2 J,K & L?

Level 9
Jun 1, 2019 1:07:12 PM

Not in this case.  The only entity that J, K, and L apply to as of Dec 31 is ET -- the parent that's surviving.  They don't get broken out for the other entities and can be left blank.

New Member
Jun 1, 2019 1:07:28 PM

thank you, much appreciated