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Pioneer
Posts: 1
Registered: ‎04-06-2017

Schedule K-1 (Form 1065) from Breitburn Energy Partners LP

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I use H&R Block software. Does anyone know how to enter Schedule K-1 Form 1065 information?

 

I have just received the form a few days ago from BREITBURN ENERGY PARTNERS LP because I purchased some shares of their stock in 2016. On the cover letter, it says "Breitburn Energy Partners LP Is a publicly traded limited partnership and you are a limited partner (unitholder) for income tax purposes. Consequently, you are required to include in your income tax return your pro tata share of Breiturn's income (loss), deductions and other items. "

 

I really need help. Any advise or suggestions?

Thanks!

 

 

 

 

 

 

Tax Pro
Posts: 5,433
Registered: ‎02-23-2016

Re: Schedule K-1 (Form 1065) from Breitburn Energy Partners LP

Hi JRMANI2017,

 

Welcome to the H&R Block community.

 

Information from Schedules K-1 is entered in a few different places depending on what type of information it is.  If you have a capital gain or loss (Box 8 of Schedule K-1) for example then that is entered on Schedule D.  If you have income in Box 1 of Schedule K-1 that is reported on Schedule E.  Dividends are reported on Schedule B.

 

If you still need assistance with this I will help you out all that I can from here, however you may wish to meet with a tax professional and go through the return with them as that will help you understand it better and you'll see how to do it so that you'll know if you want to try and do your return yourself again in the future.

 

If you have any other questions I'll be glad to help.

 

Louis,

Senior Tax Advisor (Tampa, FL)