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Does anyone have suggestion on how to find an MLP K-1 Expert? Be nice to find one online that charges per hour. But it has to be a true expert and fully understands all the box and subcodes and which losses I can suspend into the future.
My MLPs for this year have been the worse ever to figure out.
Box 11H Subpart F Income other than Section Sections 951A and 965 Inclusions -Where does this amount go? TT does not put it anywhere.
Now it gets really tricky:
I am totally confused by the amount in Box 11I and hopefully someone can explain it to me. I just bought this particular MLP OZM at the end of 2018 and owned it for less than 2 months and I own less than 20K of this MLP, yet there is over $6,000 in other income reported on Box 11I other income. And all I see looking at my brokerage account is around $250 in dividends from this MLP. If I owe taxes on over $6,000 in other income when I only received $250 from this MLP this has to be the worse MLP ever!
Box 11I Other Income (Loss) is broken down into and where I think they go:
Net Ordinary Income from ......... Schedule E part II
Total Ordinary Trade or Business Divividends 1040 Ordinary Div.
Trade or Business Capital Gains (Losses)
Net Short- term Capital Gain (Loss) Schedule D
Net Short Term Capital Gain (Loss) - Reclassified from Net Long-Term Capital Gains (Loss)
Net Long-Term Capital Gain (Loss) Schedule D
Both Net Short-term Capital Gain (Loss) and Net Short Term Capital Gain (Loss) - Reclassified from Net Long-Term Capital Gains (Loss) are large amounts and I only owned this MLP for 1.5 months in 2018.
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Hello,
Any updates on how to enter values from K-1 form 1065 related to Box 11, ITEM H: Subpart F Income Other Than 951A and how to handle this in turbotax?
Thank you,
Thank you for your response.
I have one K-1 1065 form with this line in Supplemental Schedule :
Box 11, ITEM H: Subpart F Income Other Than 951A : $4
So I guess I will just enter these 4$ in the K-1 worksheet for box 11 with code H during the Turbotax interview...
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