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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 125003  
Subject: Re: Partnerships and Schedule E ? Date: 4/2/2012 5:56 PM
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Well, I based my entries on careful reading of the IRS schedule E instructions and the accompanying instructions to the K-1 (especially p. 4) which said very clearly that Publicly Traded Partnerships are NOT reported like other partnerships

It would have been nice to know this was a Publicly Traded Partnership. That indeed makes a difference.

Although how your careful reading led you to page 1 of schedule E, I'll never know.

I was just looking for some confirmation that I'm on the right track

I certainly can't give that you to. Frankly, I think you're on the wrong track, but there's no way to know from the bits and pieces you've posted.

As usual the tax code is too complex and no one understands it properly.

I have to disagree with you there. The tax code does have complexities. But there are lots of people out there who have a decent understanding of it. Several of them post here on a regular basis. In fact, you're trying to consult with them for free when most of us charge (and sometimes handsomely) for our hard-won knowledge.

For those who appreciate the assistance, I'm glad to post here and try to help. For those who denigrate the tax profession, well, they have a place, too.

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