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Get your taxes done using TurboTax
@rona11 Welcome to the exciting intricacies of MLPs! On your questions:
a) Prior to this year, taxpackagesupport defaulted to FIFO, which was virtually never right. So correcting lots was almost always a requirement. Now that they've defaulted to supporting 84-53 (unified basis), its shouldn't be necessary to change anything unless you've got guidance from a CPA who believes that 84-53 shouldn't apply. So I'd leave the K-1 alone, but try and correct what Fidelity did so you're brokerage account and taxpackagesupport account are in sync. Note that, if Fidelity is difficult about that it probably won't matter (since they don't report cost basis info to the IRS), but if you're at all OCD it will be a discrepancy that will bug you.
b) In a "normal" stock, if you bought for $10, collected $2 in dividends, and then sold for $15, we'd all agree that you'd pay taxes on $7 (cap gain of $5 and dividends of $2). And, because "normal" tends to be simple, you'd easily see those numbers: the $5 would show up on Sched D and the $2 would be on Sched B. Well, in a MLP (using the same numbers), you would also still wind up paying tax on the same $7. But it would be spread all over the place. You'll see "Gain Subject to Recapture" showing up on one form, Cap Gain (of a number you had to calculate per this thread) on Sched D, recognition of passive losses on Sched E, potentially some interest and dividend income showing up on Sched B (but not the $2 -- that's ROC -- so its random int and divs that the partnership earned), maybe some foreign tax stuff, and if you're lucky their may even be some charitable contributions made on your behalf. BUT, if you add everything up over the years, it will still be $7 in total wealth being taxed. So long answer short, you shouldn't be "concerned" about the Ordinary Gain (since you'll have some Sched E losses to offset it), but you should try to be cognizant of all the spots your K-1 deposits money on your return. Ultimately, the only way to be sure you've used TT correctly is to have a good understanding of what it should be doing, and then double-checking (trust but verify!).
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!