PTP K-1

[gbec...@gmail.com]

My basic question is, if an MLP distribution is taxable, will this be
indicated on the K-1?

In more detail: I have shares/'units' from an MLP. The 'ending
capital account' unexpectedly (to me) went slightly negative on the
2014 K-1. My understanding is that, once my basis reaches $0, further
distributions are subject to tax. And, my not-so-solid understanding
is that 'nonrecourse liabilities' (substantial, in this case) increase
my basis.

So, if I'm right about the effect of nonrecourse liabilites, I would
have nothing to worry about here. But, it would be reassuring to know
that, if some of the distro was taxable, the K-1 would say so.

Thank you for any light you might shed.
G

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[gbec...@gmail.com]

I think I found the info: the same 'TaxPackageSupport' URL that
provides the K-1's, has a link in the left sidebar to PDF's of
filled-out tax schedules.

If only I had learned how to read when I was younger.

(The forms do not show any significant taxable income; from which, I
infer that my basis is not $0.)