I was assigned out of a position in a limited partnership through a covered call. When considering the premium from the call, I had a profit, otherwise considering just the stock itself, it would be a loss. In filling out "Enter Sale Information" for the K-1 portion in TurboTax, there are boxes for "Sale Price" and "Ordinary Gain." How do I enter these, given that "Ordinary Gain" in column (7) in the K-1 I got doesn't match either way of calculating my actual profit or loss, given that the price of the stock on the day of the sale was different from the strike price of the call?
In other words, should I enter these numbers to match what's on the K-1, or should I enter them based on my actual transaction history? And if the later, do I consider the call premium in calculating "Ordinary Gain"?
