got KMP K1
Got the hard copy of the KMP K1 for LY, it was exactly the same but in a slightly different format as what appears on that MLP Tax Package Support website. It was a long term hold, since '08.
Our CPA has the old carryover passive losses which I know are important in calculating whatever direct income tax issues we have (not concerned at all about the LTCG's since we have carryover losses to offset them).
I was wondering if there's any one or two particular places I should be looking at just to get a "feel" of the coming pain which would excluding the passive losses. Usually, I never bother looking at them. I just fold them up & put them all in a large folder, then hand them off to the CPA. "Ignorance is bliss"! Best, Ron
*I can't tell whether KMI has softened the blow since we agreed to convert over to KMI which was done last Nov.