Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Mar 24, 2024 4:59:15 AM

I held Magellan Midstream and got converted to Oneok. I not sure how to fill out the information for turbo tax. Please help

0 2 628
2 Replies
Expert Alumni
Mar 26, 2024 9:29:47 AM

Please clarify your question and the forms you have received. 

New Member
Apr 2, 2024 1:35:39 PM

I am not the original asker for this question, but am in the same situation with Magellan Midstream Partners which was acquired by ONEOK, Inc in September 2023.  While entering the info for the K-1 in TurrboTax I have to "Describe the Partnership" with "Check any that apply:" Since MMP was acquired by ONEOK, should I be checking "This partnership ended in 2023" and if so, my next screen wants me to choose how I disposed of the partnership (MMP).  I have choices of 1) No entry, 2) Complete disposition, 3) Disposition was not via a sale, 4) Sold and am receiving payments.  I assume 1 or 3 (maybe both) would be the correct choices in that case?