this is actually more complicated than you realize because of the MIC Hawaii situation which is how the $179 dividend arose in 2021 yet you got no cash. you need to find out the effect, if any, of the deemed sale of MIC Hawaii on your basis in the MIC stock, if any. That basis is what gets transferred to the MIC MLP. Only partnerships report 751 gain/loss to their unitholders upon sale. There could have been 751 income/loss in 2021 due to the sale of MIC Hawaii. If the partnership converted to a corporation effective 1/1/ 2022 there would be no 751 to report in 2022 because 751 doesn't apply to corporations. Look back at your 2021 tax report from the brokerage this may give you some idea of the tax consequences and maybe even your tax basis in the MLP was adjusted for MIC Hawaii. You might not see this on the tax reports only on your 2022 monthly statements
https://www.micinc.com/about/news/2021/mic-announces-completion-reorganization-llc.html
As part of the reorganization, the businesses comprising the Company’s MIC Hawaii segment were distributed to and became a direct subsidiary of Macquarie Infrastructure Holdings, LLC. For tax purposes, the distribution was deemed to be a sale of MIC Hawaii and unitholders were deemed to have received a distribution of the fair market value of MIC Hawaii. The fair market value has been estimated to be $3.25 per unit of which an estimated $1.79 per unit has been characterized as a dividend. No cash will be distributed to unitholders.
