Tax Info - The Sad Tale of Oxford Resource Partners (now Westmoreland) - Tax Info - InvestorVillage
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Msg  9 of 11  at  3/11/2015 9:38:38 AM  by

rlp2451


The Sad Tale of Oxford Resource Partners (now Westmoreland)

Ok, so I bought 1000 units of Oxford in the hopes it might recover some from it's $1.00 or unit price.after three months I realized that wasn't going to happen, so I sold it at a "book loss" of around $250 figuring i could write the entire loss off my taxes.   Wrong!
 
I got my K-1 a few days ago, and after going through the sales schedule, with the short time I owned it (about 4 months), the -$250 loss was reduced to a -$60 loss, and once I deleted the 1099-B and entered all the into from the K-1, tax increased by about $50 from what it was before all the entries.
 
So buyer beware when you flip an MLP. 


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