Thank you for the detailed explanation. One other question.
I received my schedule K-1 late (after I filed my original return back in April). I didn't know UVXY was structured as a partnership and would need special handling when doing my tax so I was assuming everything was correct.
>> I made a mistake by adjusting the reported tax basis rather than using the adjustment column (code b)
I guess I made a mistake by not knowing this but should I update this statement to include the fact that the schedule K-1 was late and I wouldn't know the amount to adjust it to until I actually receive it?
