How do I report K-1 MLP sale that has both long & short term holding periods. There is no separate breakdown of long & short term on sales schedule only totals.
I have only sold MLPs that I have owned long term. But the K-1 includes the Sales Schedule and it will show the ordinary gain so that part goes on the 4797. So I think the only question is about how to adjust the basis for both long term and short term holdings on MLP for Schedule D reporting. If that information is not provided on the K-1 I would think you could figure it out be gathering all your K-1s and 1099s from the time you owned the MLP. I know if I look at my K-1 it will show the distribution for the year in the partner's capital account analysis section.
Now this part I might be way off on, but I think the basis will also be reduced by the depreciation, but I think that depreciation recapture is what makes up the ordinary gain section.
I would get all your K-1 and then figure you can calculate the adjustment to basis manually using all the past K-1s and see if that number matches to the Sales Schedule adjustment to basis.