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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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Experience:  10 years experience
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Subject: K-1 Morgan (KMI) TurboTax software requires

Customer Question

Subject: K-1 for Kinder Morgan (KMI)
TurboTax software requires entries about Kinder Morgan's K-1 for both the Federal and State returns. I called Kinder Morgan and was informed that they are NOT issuing a K-1. They said that the broker (in this case Schwab) will report the status of Kinder Morgan. I checked Schwab's Tax Year 2015 Form 1099 Composite and found that Kinder Morgan's information was included in their report - but no K-1.
What do I do now? Your software won't let me finish my return.
Submitted: 1 year ago.
Category: Tax
Expert:  emc011075 replied 1 year ago.
Hi. My name is ***** ***** I will be happy to help you. You have to delete the form. You don't need it. Turbo Tax picked it up because you used it last year and didn't check the box for final K1. If the program doesn't allow you to do so, than enter 0 as ordinary income.