Ok thanks, 3 follow-up questions:
1) I'll make the adjustments to the cost basis on the 1099-B directly as you've suggested (average basis + cumulative adjustments + ordinary income = cost basis entry).
2) What now should i enter for the K1 Interview fields? Let's assume my ordinary income recapture is $10k. Is this correct?
Sales price = $0
Selling expense = $0
Partnership basis = -$10k
Ordinary Gain = $10k
3) I did a full disposition in 2021 but made multiple sales throughout the year. The FIFO method on the 1099-B results in all LT Cap Gains, but the average cost method shown in the K-1 Sales Worksheet results in both LT & ST Gains (~95% are LT gains though). Can i just use the FIFO method in the 1099-B? How should i handle the multiple sales transactions in TT or does entering the adj. cost basis for each transaction in the 1099-B address this?
