Thank you so much for your help, after going through everything, I have few more questions to ask.
2 of the ETF’s total cost basis on K-1 after adding 1f Wash Sale Loss Disallowed does not match the total cost basis on 1099-B, one is $4.79 and the other is $7.99 higher than what is reported on 1099-B, do I add the $12.78 to 1099-B total cost basis when I enter a summary for each sales category (short term box A)? I am sending a copy of 1099-B along with Form 8453 to IRS, will the mismatched information be a problem? Given all 0s on the K-1, there shouldn't be a mismatch unless you received distributions and that would lower your cost basis (the K-1 sales schedule basis would be lower than the 1099-B cost basis).
** I went over all document and transaction history in my account, I do not find any distributions. I went over each trade from 1099-B of these two ETF with final K-1, sum 1e up minus 1f by day, then I compared the number I have to the number listed on K-1 sale schedule, and except for 4 trades, none of them match. The result I have for these two ETF 1099-B 1e-1f number is lower than K-1, one by only $4.77 (I had a typo yesterday) and the other by only $7.99. Since the K-1 sale schedule came in with an amount without decimals, I am guessing the difference is coming from the wash sale accounting and the decimal rounding up and rounding down. All trades that I made during the year are in the 1099-B including these two ETF, can I reduced the 1f by $12.76 ($4.77+7.99) in the SHORT-TERM TRANSACTIONS FOR WHICH BASIS IS REPORTED TO THE IRS. (Report on Form 8949 Part I, with Box A checked.) summary? Or should I enter separate summaries for these two ETF?
** If based on the comments that you edited at the top, you mentioned:
This means the basis on every sale reported on the 1099-B (as well as wash adjustments) potentially needs to be updated. This won't have an impact on all the short term sales made on the first 3 K-1s where you started and stopped in the same year, but will impact the one you still held in 2023}
Does this mean that I can report these two ETF based on the information on 1099-B and disregard the discrepancy since I am sending 1099-B along with Form 8949?
It appears that I do not need to send schedule K-1 and K-3, is my understanding correct?
If I select both, the screen takes me to pt 3, 4 and 5 questions above on Final K-1, do I treat the same as Final K-1 for the sold positions for this ETF? As long as their are no Ord Gains, enter all 0 and dates don't matter
** Enter Code W Detail: K-1 Line 13 Code is W with a positive number, I found on K-3 Part X Line 17 Other: Other Portfolio Deduction, do I select Miscellaneous Itemized Deductions and enter the number on the K-1?
** Ugh… just shoot me, never again.
** Based on what we went through, my schedule K-1 income is $0.00
Thank you so much.
