@nexchap I am new to MLP K-1 here and I am so grateful to your knowledge sharing and guidance to this Forum. I have spent quite some time reading through this threat. May I ask two questions and hopefully you will be able to help - (A) I had a partial sale of EPD units (all short-term) in 2020, and got EPD 2020 K-1 yesterday. As expected the initial cost basis on the Sales Schedule (using "unified basis I assume) is different (not dramatically though) than my Fidelity 1099-B which is correctly using the two lots I instructed to sell. Following your earlier comments (~2 years ago), I called taxsupportpackage.com and asked them to correct. I was put on hold for 50 mins while a staff was trying to figure out how to do it and she finally gave up and told me someone will call me. I am wondering, seeing your above comments about the "new norm" of using unified basis, can I or should I still request K-1 preparer to use the correct lots for the sold units? (B) I received ~$900 RoC from the 1000 units I sold in 2020, the K-1 Sales Schedule shows -$1900 Adjustment, and $1849 "Gain subject to recapture as ordinary income". Should I be concerned that I will eventually need to pay tax on the $1849 Ordinary Gain even I only received $900 RoC? Thank you in advance for the help and guidance?
