Do I need to file Form 8990

Forum|Forum|1 year ago
March 29, 2025
1 reply
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I have bought and sold shares in a PTP (Sunoco LP) that generated a K-1. (The shares were bought and sold in 2024, so it is also a final K-1)

Because the K-1 has an amount of 152 in Box 13, code K - TT says I may need to fill out Form 8990.

In looking at other posts, and the 8990 instructions, it seems that I am not required to file Form 8990 if the interest expense is from a regulated utility business.

From what I can tell, Sunoco LP, qualifies as such, although there seems to be some current litigation as to whether it is an actual "public utility".

Also, I have seen some other posts that state I can probably ignore Form 8990 since the amount ($152) is fairly small and is probably not worth the hassle of filing.

Any suggestions?

Any suggestions or comments? Thank you!

mellynleeAuthor

Can someone help me with the above question? Is it safe to ignore Form 8990 for Sunoco LP (as it is a gas pipeline company with public utility status).

@Mike9241

@Rick19744

ThomasM125

I'm not sure about the rules as it applies to public utilities, but since the amount is small, it would be OK not to bother with the Form 8990, since the tax benefit would be minimal.

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