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Post by anitya on Mar 11, 2021 4:47:24 GMT
I bought for the first time in 2020 and still own units (shares) in MMP in my taxable brokerage account. I figured I will have to include items from an MMP K-1 into my personal income tax return. A few of the forum members own or had owned midstream MLP shares. Does MMP send me my K-1 or do I need to log into some third party website (e.g., taxpackagesupport.com) to download my K-1?
I have not received any correspondence from MMP.
Thank you.
A
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Post by chang on Mar 11, 2021 13:04:45 GMT
I bought for the first time in 2020 and still own units (shares) in MMP in my taxable brokerage account. I figured I will have to include items from an MMP K-1 into my personal income tax return. A few of the forum members own or had owned midstream MLP shares. Does MMP send me my K-1 or do I need to log into some third party website (e.g., taxpackagesupport.com) to download my K-1? I have not received any correspondence from MMP. Thank you. A You should receive a K-1 in the mail from MMP, but you are right — download it from www.taxpackagesupport.com/.
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Post by yogibearbull on Mar 11, 2021 13:38:47 GMT
K-1s start being posted at that site [or in US Mail] mid/late-March.
I don't have any K-1s for a couple of years now but I still wait until mid/late-March to check if any corrected 1099 are issued.
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Post by anitya on Mar 11, 2021 19:27:03 GMT
Thanks, Yogi and Chang.
I think I will wait for it to show up in US mail (hopefully, it will). That site required SS # to complete registration. I will likely sell before end of 2021 and not likely to ever own another MLP.
Until last night, I did not check since April 7 the performance of MMP. It is very poor since then, moved from $38 to $45, less than 20%. I had moved most of MMP to XOM and EQNR on that date. I still have 200 shares. MMP was a rock star of MLPs before the pandemic - not sure what happened to its prospects in the past 12 months relative to its peers. I will have to figure out where to roll this into and help consolidation of holdings.
A
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Post by Capital on Mar 11, 2021 23:50:33 GMT
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Post by anitya on Mar 12, 2021 2:05:51 GMT
Thanks, Capital. I own an MLP ETF. MMP is the only MLP I ever bought - bought in the depth of March sell off because I wanted to add stronger companies rather than funds. Within 2-3 weeks I sold most of it but hung on to a small lot to track but obviously I was not tracking. I learned that having too many holdings is a nuisance for my temperament.
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