I received a schedule K-1 for Proshares Ultra Bloomberg Crude oil and line 16 says Schedule K-3 is attached if checked, but I did not get a K-3. How do I proceed?

[markrlee]

It says one will be available in June 2026

[DavidD66]

You can ignore the K-3.  I would not check the box to indicate you received a K-3 when you are entering the K-1.

[GroverLLC]

Perhaps ignoring the K-3 is just fine - I don't know the specifics of this particular case.  However, with these types of leveraged ETFs that are using futures contracts there could be information on the K-3 that would be relevant.  If the OP files without waiting for the K-3 to become available in June, then he/she should still download the tax package from the Proshares website in June anyway to plug the data into his return to see if it makes a difference.  It just might.  If so, filing an amended return might be necessary.