@nexchap thank you for your answer earlier. One final question as your original method has seemed to work very well for me (again, all short term single transaction purchase and sale in 2020). No distributions were received.
In Schedule E, I am seeing the "ordinary business income" of each MLP (it happened to be a loss, but this ends up balancing out forms 4797 and 8949 like your method anticipates) is in "nonpassive income/loss" (column i). On each K1 in Section C, the loss is under "Nonpassive Income and Loss" (column h for me).
Shouldn't these losses be passive for me as a limited partner in these publicly traded MLPs? Why is TT filing them under "nonpassive"? It does not seem to change the overall tax burden that ends up coming out of Schedule 1, but feels wrong. Appreciate your insights.
