@nexchap This seems to be my situation as well, where the Sales Schedule "Cumulative Adjustments to Basis" Column Total is a negative number (below 0 by a very large amount compared to the "Purchase Price/Initial Basis Amount" Column Total). Every transaction of these SVXY shares was purchased or sold in 2018, which consisted of 6 purchased lots and 9 batches of sales. The only data I have regarding these transactions are in my Ameritrade monthly statements, my Ameritrade 1099-B, and the Proshares K-1 packet. There are only a few boxes in the K-1 Part III section that are populated:
Box 5 = 151
Box 8 = 0
Box 11 = C -442,878
Box 13 = W* 203
Box 20 = A 151, B 203.
When I follow the Graphic Guide (instructions) included in the packet and plug these K-1 numbers in the TT interview mode, TT will populate the loss into Form 6781 but automatically splits the loss into 40% short-term and 60% long-term which does not negate the short term cost basis adjustment gains from the Sales Schedule, (thus making me owe a significant amount of taxes which doesn't make sense to me).
I don't know why TT is separating this loss and treating some of this as long-term since all transactions were done in 2018. How can I fix this or how do I go about entering the Sales Schedule data so TT deals with these sales correctly?
