@RicM It depends. If the merger was a taxable event, you'd think about it (and enter it) as though you did the transaction in two steps: 1) a complete disposition of MLP A where the sale price was whatever the value of MLP B was on that day and 2) a purchase of shares of MLP B.
If it wasn't taxable, then for MLP A you'd select 'The Partnership Ended' and 'Disposition was not via a sale'. This will mean that all the suspended losses from MLP A will remain suspended. You'd enter the MLP B K-1 as normal. TT doesn't do anything to merge the suspended losses from A & B, but you can handle that next year.
NEXT YEAR, when you're filling out the K-1 for MLP B, you'll get to the screen that asks about suspended losses from prior years. TT will grab the losses from MLP B, but you can change those numbers to be the sum of MLP A & B. Then just delete the MLP A K-1 that TT created.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
