New client purchased units in 2012 and 2018. Does not have returns prior to 2015 and no basis calculations or carry forward non deductible losses are included in either of the last two returns.
Before I send them on a goose chase, is it possible to get older K1s from Energy Partners? Any other suggestions as to how to come up with the numbers?
First thought is to have them contact the prior preparer, but from the looks of the return, there may not be anything to get.
In round numbers, they paid $75K for the interest and received about $40K in "dividends". The K1 shows ending capital of $10K, which gives me a hint that there should be about $25K in disallowed losses. Maybe.