How to report APU MLP merger to UGI.

[brown703]

Hi, I bought units of the MLP APU over various time periods.  In 2019 APU merged with UGI which is not an MLP.  I recieved about .6 shares of UGI for every unit of APU.  My 1099 B gives information on this transaction not reported to the IRS.  My K-1 statement says this transaction was treated as a sale. I'm lost on how to report this information. "Under describe the Partnership" I selected "This partnership ended in 2019."  On the next page I select "Complete disposition".  Next "Sold Partnership interest".  Is this correct so far? On the next page it asks for a purchase date, should I put various? How do I derive the following as there appears to be no one to one match up in the forms I received:

Regular Gain or Loss:
Sale Price
Selling Expense
Parnership Basis
Ordinary Gain
1250 Gain

AMT Gain or Loss:
Partnership Basis
Ordinary Gain
1250 Gain

[Anonymous · Accepted solution]

did you see the supplemental statement that was enclosed with the K-1 that gives the info for reporting the sale

capital gin

box 3  = sales price from 1099-B

box 6 + box 7 = cost bsis for capital gain. this is what needs to be reported for tax purposes. tghe 1099-B info is incorrect  - it will only indicate what you originally paid. 

box 7 enter on the disposition worksheet (you need to click the link for disposition and fill in info so prior passive losses are allowed) it as sales price. use basis = 0. enter ordinary gain same as box 7 (this l flow to form 4797 line 10 

TT does have a good way to enter 1250 gain   so what I do is enter the amount on line 9c of k-1and then go to addl info 1 use quickzoom below line 11. enter the 1250 gain in box 9c  line 3 this should flow to line 10 of 1250 gain worksheet. 

[brown703]

Thanks for the quick reply, just for clarification.
Partnership Basis = Box 6 + 7

Ordinary Gain = Box 7? Not sure what you mean by "you need to click the link for disposition and fill in info so prior passive losses are allowed"
1250 Gain = 9c Kinda lost on this one, but it is 0 in my k-1.

What do I put for Selling Expenses?  Also wonder what to put for buy and sell dates?  Bought units at various times and have two sell dates within in 2019.  I'm also using the step-by-step view if that helps. Sorry for being lost, MLP and K-1s are new to me.