Business & farm

You'll have to create two K-1s within TT.  The reason is that PTP rules do not allow losses from one PTP to offset gains in another.  So if you entered the total of the two PTPs on a single K-1, you could violate the rule.

Make "partnership name" on each K-1 something like "ETP (ETP entries)" and "ETP (USAC entries)" to tell them apart.  There's no need to enter the Part II info on the USAC one.

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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!