K-1 Sales

[epk]

My K-1 complete disposition involved both LT and ST sales. TT only allows one entry. How do I complete this transaction?

[Mike9241]

are these publicly traded partnerships? special entries are required.  

[epk]

Mike, yes 1065 PTP Energy Products Partners and others as well final K-1s 

So I have LT sales and several ST dates, I am considering listing the ordinary income and zero the others, then go to 1099-B and adjust the Capital Gains/Loss there as I read you in another answer you provided. 

Would that be your solution to my problem?

[PatriciaV · Accepted solution]

Basically, you need to report two sales for Form 1099-B, one for long-term and the other for short-term. 

This article provides step-by-step instructions for reporting the sale of PTP/MLP investments: How do I report the sale of Publicly Traded Partnerships (PTPs) or Master Limited Partnerships (MLPs...

[epk]

Thanks Patricia V. , this was very helpful and solved my question.

Another topic is SLV and GDL ETFs held long term, listed on 1099-B with box E checked,

what to do with those?

[PatriciaV]

Enter the information from Form 1099-B under Stocks, Crypto, Mutual Funds, etc. Report the "Cost or other basis" from Form 1099-B Box 1e, even though it's not reported to the IRS by the brokerage firm (this is common). 

You may have received supplemental information from the broker that reports a different basis. Use this number instead of the amount shown on Form 1099-B to be sure you report the actual gain or loss. Check the box under Box 1e for "The cost basis is incorrect or missing on my 1099-B," which will allow you to enter the corrected basis amount.