Tax Software: Concerning MLP's

Discussion in 'Bookkeeping & Taxes' started by BradT5582, Dec 28, 2010.

  1. BradT5582

    BradT5582 New Member

    I own units in some Master Limited Partnerships (MLP's). Units are similar to shares. These are traded on the major exchanges. I understand that Turbo Tax can download the information from the MLP's websites. I don't know if the other tax software can download from the MLP's websites. Last year I used Tax Act Deluxe and I couldn't figure out how or if you could download. Do you happen to know the answer?
  2. Reece

    Reece Member

    Hi Brad,<br><br>

    I've spoken to TaxAct customer support about this issue, and it seems that TurboTax lets you import previous tax information only as PDF files. You would have to download or save the information from the MLP's websites on your computer as PDFs before importing them into your TaxAct return. I recommend calling their customer support line for more information about this: (800) 573-4287<br><br>

    TurboTax has a solid product this year and it may be the right choice for your situation. However, you would save some money by going with TaxAct if you don't mind manually entering your MLP information.<br><br>

    If you have any other questions or concerns, please don't hesitate to post again.<br><br> - Reece, ChooseWhat Staff

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