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Plains All American Pipeline, L.P. Message Board

  • billmann40 billmann40 Mar 30, 2013 5:43 PM Flag

    PAA K-1

    If I'm a US citizen do I need to include the boxes under the "Canada" section (16 through 20) of the K-1 statement in my return?

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    • Again, the safest approach is to enter all boxes.
      You seem to be asking for every box whether to include it.
      The fact that you are not sure argues to enter them all.
      Turbotax prompts you for every single box so you should be able to figure out where it puts them on your return by looking at the forms produced.

    • I am not an accountant and therefore have relied on one for the proper reporting of income associated with my investment in PAA. I took a look at my return and do not see a reflection of any of the figures shown in sections 16-20 but that is not to say that they somehow come into play, say, in terms of the foreign tax credit. On the other hand, the figure in Box 1 reflecting ordinary business income (loss) is reflected on the return. Hope that helps.

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