rambler74
New Member

Taxation on Net Section 1231

Regarding taxation of Net section 1231.  Due to the recent merger of Cedar Fair & Six Flags, Cedar Fair's Master Limited Partnership has ended as of 7/1/24..  As of 2023, I have an accumulated Net Section 1231 gain of approximately $33,000.  Due to fact the MLP has now closed, will I be taxed on this accumulated gain?   OR  will I be taxed on the the yet to be determined 2024 Net Section 1231 amount that will be posted on the 2024 K-1?