Trying to file an old tax return with missing schedule K1 from Energy Transfer Partners LP

Forum|Forum|2 years ago
April 2, 2024
2 replies
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Hello,

My brokerage statement is showing "PARTNERSHIP CASH DISTRIBUTIONS" from Energy Transfer Partners LP.

All those cash distributions were reinvested to the stock.

But I cannot retrieve the requisite schedule K1 or the From 1065. When I called the company's hotline, they told me that the Form 1065 for that given year is no longer available and that they CANNOT help me getting a copy of that old schedule K1 anymore.
How can I enter that information in Turbo Tax? I have been filing my taxes using Turbo Tax for over 24 years now And I never had issues and was able to figure everything on my own. But I'm totally clueless about this particular issue and would very much appreciate if someone explain to me in simple terms.

THANK YOU!!

TurboTax Home & Biz Windows

Best answer by RobertB4444

You don't have to report the distributions. You only need to track them so that you are aware of the basis if you sell your interest in the partnership. At least you need to track the amount that you are reinvesting.

@Clueless_in_Taxland

nexchap

If TaxPackageSupport doesn't have it, you could try contacting Investor Relations at the company itself, or the accounting firm they use to prepare their K-1s.

**Say "Thanks" by clicking the thumb icon in a post**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user. Use any advice accordingly!

Clueless_in_TaxlandAuthor

Thank you CHAMP!!
When I contacted Investor Relations, they referred me to https://www.taxpackagesupport.com/et.
I called them a second time at [phone number removed] and was told that they don't keep any tax document that's older than 3 years. When I mentioned about contacting their accounting firm, they gave me the same boilerplate answer.
I've emails Investor Relations, but I think they are going to come back to me with the same response.

So, I wonder if there is any way I can report the Partnership Cash Distributions without the K1 for that year???

Or, can I simply omit reporting the Partnership Cash Distributions as it was mentioned under TRANSACTIONS WE DO NOT REPORT TO THE IRS section in my brokerage statement?

RobertB4444Answer

@Clueless_in_Taxland

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RobertB4444

I'm a little unclear what information you are trying to enter into TurboTax. I'm assuming that you want to enter in all the money that you reinvested into the stock in order to calculate your basis in the partnership in order to sell it. In that case all of the K-1s showing those reinvestments would definitely come in handy.

You can create an account on the IRS website and get any tax documents with your name and social security number on them going back many years.

Here's where to go to create an account.

@Clueless_in_Taxland

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Clueless_in_TaxlandAuthor

Thank you Robert for getting to the heart of my question!!
To be honest, I am totally clueless about how to handle the PARNERSHIP CASH DISTRIBUTIONS amount I received from Energy Transfer LP under the NON-REPORTABLE TRANSACTIONS section in my 1099 brokerage statement.

I never owned any PARTNERSHIPS and I'm totally ignorant about the tax ramifications of PARTNERSHIPS and how to handle it in Turbo Tax.
I'm afraid I must report it in my tax return; correct? Since it was money I received (which was reinvested in the stock), I guess IRS needs to know about it, even though it was listed under the TRANSACTIONS WE DO NOT REPORT TO THE IRS section.

If I do need to report this cash distribution in my tax return, where do I report it in Turbo Tax?
Or, can I simply ignore reporting this cash distribution and wait until I see the stock?

Again, I thank you in advance for your thoughtful response!!