@nexchap already then, thank you for confirming what I suspected. This is turning into a moving target due to TT's software changes but I really think TT owes you kick back because without you all of us would be lost in this mush! So since we've confirmed TT no longer generates 1099-B I would like to, if I may summarize the 2 schools of though here applicable to the easiest of all use cases - full disposition of all-long term units:
a) edit broker 1099-B with the correct basis as to generate correct capital gains and still one MUST do the final K1 interview but enter 0 for selling price so that it doesn't generate capital gains but only ordinary gains on 8949. We still end up with TWO 8949s; one which is married to the 1099-B (for all of the other non-MLP transactions which I assume one had) and the other 8949 for the MLP's ordinary gains "not reported on 1099-B" which is auto-generated by the final K1 interview. If one ONLY has one transaction on 1099-B for the MLP disposition then I would assume we end up with ONE 1099-B and ONE 8949.
OR
b) delete 1099-B from broker all together and use the final K1 interview while entering all pertaining info from the final K1 scheduled (don't enter 0 for selling price as in case A above) so that it will auto-generate 8949 (gains not reported on 1099-B) this time containing both capital and ordinary gains on that auto-generated 8949. Here we end up with NO 1099-B (assuming no other brokerage transactions occurred for the tax year) and one 8949.
Discussion: I don't see how (B) is viable in the general case since even a modest investor will have other transactions listed on the same brokerage 1099-B so killing the form won't work. Editing the form by means of removing the MLP sale transaction is complicated so there would have to be a way to "negate" the 1099-B specific to just that one MLP while leaving all other transactions reported there intact. I would solicit feedback from the masters here (@nexchap) on how to make option (B) easier to grasp? Is that where you edit the basis to match the proceeds on that 1099-B so that absolutely no gain is reported and nothing flows to 8949? Even if we have a legit way to negate the MLP transaction from the 1099-B I contend that we still end up with multiple 8949s? yes?
Thank you
