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Do I report K-1 1065 Part I&II data on each K-1 when reporting income from a PTP with multiple Part III data columns? Examples: Enbridge, ETP.
Previous TT community answers stipulate creating a separate K-1 for each subsidiary partnership, using the Part III column specific for that subsidiary. That's clear. However, those answers don't specifically instruct whether to redundantly enter the Part I and Part II data that I've already included on the K-1 I prepared for the master partnership (the one that mailed out the 1065). I recall seeing info that says to leave Part I and Part II data blank except for inclusion of the subsidiary's FEIN. So, do I redundantly enter the same Part I and II data or not? Examples are the K-1 Form 1065s sent by Enbridge Energy Partners and Energy Transfer Partners each of which contain multiple Part III data columns.
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‎June 6, 2019
12:50 PM