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Abbott Laboratories Message Board

bornon_the_bayou 4 posts  |  Last Activity: Apr 6, 2015 9:00 PM Member since: Jun 18, 2010
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  • Reply to

    does BHI issue a K1 form ? thanks

    by lilies778 Apr 3, 2015 12:42 PM
    bornon_the_bayou bornon_the_bayou Apr 6, 2015 9:00 PM Flag

    no

  • Reply to

    K1 2014 Sales Worksheet (extra?) entries

    by bornon_the_bayou Feb 20, 2015 12:53 PM
    bornon_the_bayou bornon_the_bayou Feb 20, 2015 4:57 PM Flag

    Thanks, I understand what you are saying, but my numbers don't seem to jive. (I got the "new" K1 after they erroneously added 2 sales entries) Sales proceeds(4), and purchase amt(5) no problems--straight from broker. Now (6) "ADJUSTMENT TO TAX BASIS" if I read you right, should be total of all distributions(?) Well mine is not, in fact it's over twice as much as all the distributions I got. Here's my numbers: (4)Proceeds $43.8K , (5)Purchase Cost $31.4K, (6)Adjustments2TaxBasis -$15.7K---[? all my distributions together were only $5.9K] and if Partner level adjustments is supposed to be the cumulative sums of all the Ordinary Gain/Losses since I've owned it, then that would be -$8.7K (I only held this for 3 years). I would assume then, that my total gain/loss according to this K1 is: 43.8-(31.4+(-15.7))+(-8.7)=$19.4K. ?? Thanks for any help rich, this is the first time I've sold an MLP, for a reason.....

  • bornon_the_bayou by bornon_the_bayou Feb 20, 2015 12:53 PM Flag

    OK, I'm over my head a bit, but I would like to point out that it appears my worksheet has 2 extra entries, ostensibly reported from my brokerage according to the (third party) tax support person on the phone. The first two entries faithfully reflect my two acquisitions (300 then 130 units) and their subsequent dispositions on 11-26-14. Additionally and inexpicably there are two other entries of 430 units each on 10-30-14 and dispositions on 11-26-14, and both entries are identical to each other and carry numbers in columns 6, 9 and 11 all of which total into the other, expected, entries. The tax support person said she would remove them and will send me a new package. SO if anyone sees the same thing, maybe this will help. Now if anyone can tell me how to calculate column 7, "partner level adjusments to basis" I would be a happy boy.

  • bornon_the_bayou bornon_the_bayou Feb 9, 2015 1:36 PM Flag

    OR, HAL is only worth $39.72.= 8% premium on HAL. :)

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