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Enterprise Products Partners L.P. Message Board

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  • rhalisd rhalisd Jan 31, 2013 6:34 PM Flag

    Tax Information

    If your saying you sometimes get more back after filling in the K-1 information... then you're doing something wrong. You can't take losses on PTP.. only gains.

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    • Although you are correct that losses can often be offset against gains from the same partnership, there are a number of ways that entering a K-1 can reduce your tax liability.
      The best example was 2 yeas ago when I entered by APL K-1 and my tax bill dropped by $10k. I didn't understand at the time but it was explained well by jrad (tax professional) on the APL board at the time (probably around March 2011 if you want to look).

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