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Get your taxes done using TurboTax
@nexchap-- Thank you. I believe you are correct that the Ordinary Gain is actually $0 in this case.
I have another question regarding the sale of this commodity ETF. It appears that my broker did report the cost basis for the first sale (07/31/2019) on the 1099-B I received, i.e. it was classified as a covered security (Box A was check on Form 8949, Part I).
For this sale, the adjustment to basis = -60 and the ordinary gain = 0. Can I still adjust the basis on my 1099-B, or should I enter the adjustment in the K-1 interview somehow (to avoid contradicting what my broker reported)?
‎July 3, 2020
3:00 PM