K-1 Tax Information for Sunoco LP Investors
What is a K-1 and when should I expect to receive it?
A K-1 is a tax document related to your units in Sunoco LP that you will need to prepare your annual income tax return. It’s like a 1099 that you would receive from a corporation reporting dividends paid, but it is more detailed.
We mail paper copies of the SUN K-1 in mid-March each year, but Sunoco LP unitholders may also retrieve the data online.
How can I request a K-1 from previous years?
For additional information regarding investor data or for copies of K-1s from prior tax years, please contact Tax Package Support toll-free at 1-844-289-8131 Monday–Friday, 8:00 am–5:00 pm Central Standard Time (CST).
What is a K-3 and when should I expect to receive it?
A limited number of unitholders (primarily foreign unitholders, unitholders computing a foreign tax credit on their tax return and certain corporate and/or partnership unitholders) may need the detailed information disclosed on Schedule K‐3 for their specific reporting requirements. To the extent Schedule K‐3 is applicable to your federal income tax return filing needs, we encourage you to review the information contained on this form and refer to the appropriate federal laws and guidance or consult with your tax advisor
Sunoco LP K-3s are expected to be available online by June 30th each year and are retrievable from the Tax Package Sign In.
Will pending legislation H.R. 7024 affect my tax filings?
Pending legislation H.R. 7024 Tax Relief for American Families and Workers Act of 2024 (“H.R. 7204”) was passed by the House on January 31, 2024 and is currently pending review in the Senate. Should H.R. 7204 in its current form be signed into law, it may require SUN to issue you a revised K-1. If a revised K-1 is required to be sent and you have already filed your 2023 return(s), you will need to review the revised K-1 to determine whether you will need to file an amended or superseded tax return(s). Please consult your tax advisor to understand how the passage of H.R. 7204 may impact your returns.
Download K-1 and K-3 Info
Call
1-844-289-8131
Monday–Friday
8:00 am - 5:00 pm, CST
Sunoco LP Tax Package Support
PO Box 799060
Dallas, TX 75379-9060
Tax Information FAQ
What are the tax consequences of inheriting master limited partnership (MLP) units?
Master limited partnerships (MLPs) can be a tax-efficient means of transferring assets of an estate. When an individual inherits units in an MLP, the cost basis is reset to the price of the unit on the date of transfer. Thus, the tax liability created by the reduction of the original unitholder’s cost basis is eliminated..
That said, we recommend you consult directly with your own legal and tax advisors, as every situation is unique.
Are Sunoco LP units suitable for my Individual Retirement Account (IRA)?
We recommend that you consult with your tax advisor, as each investors’ tax situation is unique. For the majority of investors, placing a tax-shielded investment like a master limited partnership (MLP) unit into a tax-shielded IRA is typically not the most tax-efficient way to invest. That’s because MLPs generate what is known as “unrelated business taxable income” (UBTI), and certain tax-exempt investment vehicles such as 401(k)s or IRAs would be subject to tax on MLP holdings.
