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Kinder Morgan Energy Partners Message Board

waccamawbill 1 post  |  Last Activity: Apr 15, 2016 9:02 AM Member since: Mar 22, 2002
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    LINE costing lot of money in taxes schedule K-1

    by g_mu_ang Apr 14, 2016 10:28 PM
    waccamawbill waccamawbill Apr 15, 2016 9:02 AM Flag

    Yes! I got a call yesterday from my CPA to ask about the $109,170 in other income on my K-1 from Line.
    I argued strongly that the forgiveness of debt was a 2016 event not a 2015 event. I was wrong. If the morons who run Line had given all of us a heads up we could have sold shares for a TAX LOSS PRIOR TO DEC. 31, 2015. Now I am forced to pay taxes for money I never received. I am not a happy unit holder and at some point those morons will have justice served on their sorry hides

    Sentiment: Hold