bobcvn, I have same question. Hope someone can answer:
I am equally confused on the additional page Energy Transfer
(ET) included in the Tax Package for the ETP to ET transfer. It is
titled "Built In Gain/Built In (Loss) Statement." It
states "On October 19th, 2018 you contributed your ETP units to Energy Transfer
LP ("ET") in exchange for ET common units. An asset
contribution to a partnership would result in a built in gain or (loss) to be
recognized by the partner as the units are disposed. The tax basis
reported below is based on information provided to the Partnership by you or
your broker, or the amount used to determine your share of allocable gain or
loss."..."This statement is provided by the Partnership to report the
built in gain or built in (loss) generated by an investor's exchange of
property for ET units."
Gives 3 entries: "Fair value of contributed ETP Units" and "Tax Basis of Contributed ETP Units" and "Built in Gain/Loss".
My question: Is this reportable on 2018 taxes or is this to be used when sold in future?