Partnership owning part of another partnership


T

TLC

Hi all! I have a quick question. My investment club is a partnership
with 4 partners. We own part of another partnership (Kinder Morgan
Energy Partners). We received the K-1 for Kinder Morgan and we want
to know if we just include this data on our partnership's 1065 and
cooresponding K-1s or is there something special we need to do with
this information? We want to make sure we handle this properly.
Thanks!

-sourire1
 
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P

Paul Thomas, CPA

TLC said:
Hi all! I have a quick question. My investment club is a partnership
with 4 partners. We own part of another partnership (Kinder Morgan
Energy Partners). We received the K-1 for Kinder Morgan and we want
to know if we just include this data on our partnership's 1065 and
cooresponding K-1s or is there something special we need to do with
this information? We want to make sure we handle this properly.



The line items get counted as your partnership income - interest, dividends,
ordinary income, capital gains, etc and so on - and, those items would then
get distributed to the partners on your partnership K-1s.
 

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