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  • marklibera marklibera Feb 12, 2012 1:47 PM Flag

    Tax Question..

    Your 1099 from the broker stated it correctly: don't report the distribution from NRGY as you would the divs. You will get a k-1 sometime in March from NRGY. Note there's a website where you can register to get your K-1's on the Internet and even a program that downloads the k-1 right into your Turbo tax. Manually entering the info from the k-1 is not difficult and the k-1 tells you which items go into which schedules if you don't use a program like turbo tax. I might get the more advanced Turbo Tax program for investments as the questions it asks are more in depth and handle partnerships better. In the past, I have found that there are always a few questions in turbo tax that are a little tricky, usually dealing with intangible drilling costs and the like which NRGY may not have. One other thing, the k-1 may report interest and capital gain that is then reported y you on your Schedule B. Royalties, if there are any, are reported on schedule E.

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