nexchap. do you contact your K1 preparer before the K1s are prepared and sent out(usually in March) , or after you receive them, to request any changes on how units are sold, per a revised K1? You are right in that very few tax prepares are doing this correctly, and the problem is sysetmic. Tax software like Gainskeeper, is NOT designed to do proforma lot selection, and treat MLP units sales like everything else, LIFO, FIFO, HIFO, or specific lot selection. Then when you begin to add in Wash Sales, wash sale attachments, etc, it often goes from difficult to impossible. Also, I am unaware that the brokers are sending the lot selections to the K1 preparer. I thought the K1 has your database of purchases and sales , and uses its own "lot selection method" to determine cum adj and ordinary gain on the sales schedule, usually defaulting to "unified basis".
