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Atlas Energy Group, LLC Message Board

  • I am looking for some help with the K-1 tax filing. I utilize the TurboTax software. The ATLS instructions indicates that each of the PTP passive activities must be reported as a standalone basis on the tax return with the other companies listed as a PTP being ARP and APL. I own each of these other partnership stocks as "real" holdings. How do I go through the TT software package and add the PTP ownership activities when I do not have reported info for Part II (L) for the PRP holdings on the ATLS K-1 form.

    thanks

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    • I don't have an ATLS K-1 but if it is showing you its holdings of ARP and APL then the numbers for all 3 (including ATLS) would be shown on subsequent pages of your K-1. So you would just enter each of those as if it was a separate K-1. There has been lots of discussion of this on the EPD and ETE/ETP boards which have a similar issue of sub-K-1s. To keep things as least complex as possible do not combine the ATLS numbers for ARP and APL with your own individual holdings of ARP and APL. Make a new separate K-1 called APL ref ATLS, or something like that.
      Calling Turbotax won't be of help as it is not a software issue, simply tax advice of understanding how to handle the K-1. Intuit will not give tax advice.

    • I still use paper and pencil so can't help you out. I'd call Turbo Tax and ask for help - and I'd double check whatever it comes up with by hand.

 
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