@rona11 In general, if your broker reported the correct numbers of units and revenue, in the short term and long term categories, I just edit (proportionally) however many lots they provided to get to the right overall numbers. If the broker used different lots than the K-1, and there's discrepancies between the two, then you have to create new entries (code C or F) that are correct. You can cancel out what the broker sent just by setting cost equal to revenue (so $0 gain). Doing that (rather than deleting the entry entirely) avoids a possible question where the IRS knows that Fidelity told you about $1000 in revenue on 1099-B, but you report something different than that.
As to the flow chart, it looks good. If you get more complicated K-1s you may discover some different nuances, but in general it will be very handy as you deal with this stuff in the future.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
