Hi guys, read through all this...super helpful! We also have ET stock for 2023 and had a few more questions hoping to get clarity on. Thanks in advance!!
1. This is our first year with a K-1 form Energy Transfers, and read the the threads. I believe I need to enter them as 4 separate K-1s (ET box 1, USAC box 1, SUN box 1, and SUN box 2). I also read the thread where it talks about which items in Part III have no effect. But is it ok to enter box 18, and box 19 in all the K-1s or just the main ET K-1? Also it does not breakout A in box 20, does that get entered in all 4 as well?
2. In addition, I'm unsure how to breakout Sunoco because it has ordinary business income and net rental real estate income. Do I just duplicate all the breakouts except box 1 and box 2?
3. When it comes to Part II, I just wanted to check I enter all sections in all 4 K-1s or just the main ET K-1? Specifically partners share of profit, loss, and capital, partners share of liability, and partners capital account analysis.
4. Lastly, this K-1 does have business interest. It totals $577, do we need to fill out form 8990 or is that optional if we decide deducting the interest expense is not worth the manual hassle on TT?
