Not exactly. Box L on the Form 1065-K1 is the capital account information. It does not go to the Form 1040 from the K1 because on the K1 this is just information.
Report the sale of the MLP shares in the investment section and you should use your full cost basis against the sales proceeds on the 1099-B. If your full cost basis is the ending (or beginning capital account) figure then this would be listed as your cost. Example: Initial investment plus any additional investments less any previous return of capital = cost basis of MLP. Report your investment sale (Form 1099-B) using this link: Where do I report investment sales?
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