This is off topic, but I'm hoping someone can help with this question re: Partial sale of MLP holdings. We sold 900 units of an MLP and asked the broker to make sure the Lot sold was the most recently purchased (6 yrs. ago). He did this, and the brokerage statement documents the acquisition date correctly for the sold Lot. The K-1 came through and the 900 shares listed on the sale schedule is for 3 Lots of 300 each that were purchased over 16 yrs. ago because they use the FIFO method. The K-1 indicates that it is done using FIFO as an administrative convenience, and to let them know if the schedule of sales is not correct. Is it really possible to have the MLP redo the K-1 with the proper units sold? Even if they will, I don't know if it will have much of an effect but it appears that the Ordinary Gain per the current K-1 is going to be substantial on this sale. Am I right in assuming the gain would be less for units held for a much shorter period of time? I am trying to determine if this is the case so I will know if it is worth it to try to have the K-1 restated.
