The toolkit for master limited partnership investors. Track your real K-1-adjusted cost basis, model 20-year hold-vs-sell and §1014 estate outcomes, and get IRS-cited answers on §751 recapture, basis erosion, and multi-state K-1 filing. Built by Lucas Andersen — MS Finance; 20 years in asset management and institutional energy trading; builds partnership-taxation tools and basis-reconstruction workpapers — because he needed this toolkit for his own portfolio first.
Your broker’s cost basis is wrong. Calculate your real IRS-adjusted basis, free.
Sold or hold a private LP, syndication, or fund interest? Basis reconstruction workpapers your preparer can file from.
Per-ticker K-1 guides (EPD, ET, MPLX, WES, PAA), distributions, and basis erosion.
Cross-ticker sell-vs-hold comparison — how the call shifts by MLP archetype.
The §1014 step-up erases decades of basis erosion and §751 recapture at death. 6-part series.
30+ IRS-cited deep dives: §751, PTP passive losses, QBI, IRA UBTI, multi-state filing.
Popular guides: EPD · ET · MPLX · WES · PAA · §751 Recapture · State Filing · Why Own an MLP · When to Sell
Publicly traded partnership (MLP/PTP) — EPD, ET, MPLX, and peers. Use the free K-1 Basis Tracker: it computes your IRS-adjusted basis from your K-1 history, in your browser.
Private partnership — real estate syndication, private equity or hedge fund LP, oil & gas program, family partnership. Brokers don’t track this basis and consumer software can’t reconstruct it. That’s a service engagement: a CPA-ready basis workpaper, everything in writing. Basis reconstruction →
MLP taxation is where broker software and generic tax advice break down. Distributions aren’t dividends — they erode your basis. §751 recapture turns part of your gain into ordinary income. A single K-1 can pull you into a dozen state returns. These tools compute the real numbers, with every value tied to a specific IRC section, IRS publication, or Partner’s Basis Worksheet line.
Built by Lucas Andersen — MS Finance; 20 years in asset management and institutional energy trading; builds partnership-taxation tools and basis-reconstruction workpapers — because he needed it for his own portfolio first. Everything runs in your browser; free tools need no signup, and optional Premium features use zero-knowledge encryption.
Also here: free business, career & money calculators — ROAS, profit, LTV, pricing, salary, and rent-vs-buy.
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