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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?
‎July 10, 2024
7:02 AM