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.
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.
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.