when you wife inherited the PTP she should have contacted Buckeye, to find out how to get the basis adjusted to to date of death value. if she did, then for all the years the k-1 profit and loss would have reflected the proper numbers to report on each tax return she needed to report the k-1 activity for all years from 2013 to 2019
Buckeye would have supplied with the final K-1 a supplemental report allowing you to calculate gain/ loss and what was ordinary income recapture based on DOD value
now lets say Buckeye was told. and the DOD
then it would only reflect the purchase price and the k-1's would not reflect any adjustment for step-up
again each year she needed to report the k-1 activity. when liquidated since Buckeye didn't know about
the death. the numbers on the supplemental schedule would be incorrect
to figure her basis it would be DOD value plus all items of income less all items of expense and distributions
to make it simple look at schedule L for 2013 to 2019
now she has her tax basis which you can substitute for what's shown on that schedule
in addition starting in 2018 she need to enter the QBI info
for 2019 she may have to report the QBI info. this would also require proper entering of any QBI loss carryover from 2018
if the k-1 info has not been entered on your returns seek professional advice,.
