Follow up to my earlier post. Because my sale was a final sale/disposition - when I actually checked that box on TT, it freed up loss carry forwards that offset the phantom gains....
Because I did receive 1099-Bs from the 3 brokers where the units were held, I decide to follow your suggested approach and calculate only the ordinary gains listed on the k-1 ( by entering 0 zero for sales proceeds and then the ordinary gains from the K-1.). I then entered the non covered 1099-B data with sales price and original cost basis in that part of TT. For the cap loss amount, however, I think I need to adjust (reduce my original cost basis) to refelect the capital loss portion as calculated from the k-1 sales schedule. TT will let me make those adjustments but seems to indicate that I need to fill out a 8949 or maybe schedule D to explain those adjustments.... how should I categorize that adjustment to the cost basis and will TT populate it on the right forms or is there something else I can or should do (like simply reporting the “adjusted” cost basis rather (so that it matches the capital loss amount calculated under the k-1 sales schedule) rather than the original to begin with and leave it at that? Thanks again for you help in sorting this point out...
