I've owned Energy Transfer Partners for several years now. Energy Transfer owns positions in two other MLPs, USA Compression Partners (USAC) and SUN (Sunoco LP). Sunoco reported income in Box 1 and Box 2 in the past. The Energy Transfer Partners K-1 contained one table that consolidated the overall data, plus a separate table where it broke out the data for the other MLPs. Based on input from this forum, I created four K-1 entries for Energy Transfer: ET, USAC, SUN Box 1 and SUN Box 2 (Real estate).
This year, Energy Transfer broke the data up separately. There is still the consolidated K-1, but the breakdown for the other MPLs doesn't show values for all of the sections on the main K-1.
I think the appropriate way to handle this is to fill in the data for the USAC, SUN Box 1, and SUN Box 2 first. Any items on the main K-1 that aren't attributed to USAC or SUN gets attributed to ET. This year, the SUN Box 2 is zero, so there is nothing to report. I also assume I still need to enter a K-1 into Turbotax for Sun BOX 2 with $0 for all entries. In general, I need to report it such that the totals end up matching the main table.
The K-1 called the separate breakout a "Schedule of Separate Passive Activities". All three are PTPs (Publicly Traded Partnerships) and there are limitations on passive activity losses. I don't fully understand how that works.
If anyone is familiar with Energy Transfer Partners, can you weigh in on whether I'm entering this data correctly? I have copied the two tables in the images below.
Thanks.
