@luke622 Glad its sorted out.
If you look at your 1040, line 8 refers to Other Income from Sched 1. And if you then dig into Sched 1, you'll see the Ordinary Income from form 4797 showing up on line 4. That's how you get taxed on all of it.
In addition, there's also line 5 on Sched 1, where any suspended losses from your K-1s get released when you sell. That's the 3rd big piece of the final MLP reconciliation.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
