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Get your taxes done using TurboTax
Our K1's (for 100% sales of ETE and ETP before forming into ET) had a "Sales Breakout Information" form as a separate documents in the K1 download site. It had the Cumulative Adjustments to Basis", a new cost basis, Gains Subject to Recapture as Ordinary Income, and Adjusted for recapture of bonus depreciation. I called the help desk at the K1 desk, they were not at all helpful, on either the tax implications and the TurboTax input. Her answer to every question was ask your CPA or TurboTax.
‎June 7, 2019
4:05 PM