Received my K-1 for ETP today. It says not to use Part III of the form but to use the Supplemental K-1 Information Statement.
I understand the supplemental information for Part III but what about Part I and II?
I see the FEIN number for each of the other two partnerships but no information beyond that. Nothing for Part I B, C and D. nothing for anything in Part II.
Any thoughts on how this is handled? I use Turbo Tax and have not had any issues with K-1s in the past but this is new ground for me.
The part II data only apply to ETP as you only own ETP units. Create a separate K-1 for each of the subsidiary companies and title the K-1 for APU, SXL, ect as "Amerigas Partners LP ref ETP". That way you know that information is referenced to ETP. As to part I data - you only need the name and tax ID number. The address goes nowhere. It is only for your personal use.
I started working on mine this morning, total time to finish (with distractions) less than an hour. I use Turbo Tax and this is the most dificult K1 I have ever done, or should I say the most difficult three K1s I have ever done. As I see it you must fill out separate K1s for ETP, SXL, APU. Turbo Tax is great but I am finding that I am leaving many of the questions blank. I have found this to work best if it is not clear on the K1. When I get questioned by the IRS I just send them a letter saying "how the hell can I understand this, here is the copy of the K1". Let them deal with it, worked well in the past.