report what's on the K-1. included with every MLP k-I I have ever seen, when sold, there is a supplemental schedule so you can figure the basis, gain/loss, and any ordinary income to be reported on the sale, your 1099=B will be wrong because it will use your original tax basis not the one that must be used for tax purposes. if you don't have it you either failed to download it or left it in the envelope which you probably no longer have. in most case the entire K-1 package can be downloaded from the MLP website or an alternative they have
if you desire to figure basis out for yourself, that shouldn't be hard in Part II item L reports on the tax basis.
its the beginning value + capital contributions +/- current year income loss +/- other increase decreases and then less distributions shown in part III line 19A if any + any gain subject to recapture as ordinary income as reported on the supplemental schedule. do not use the withdrawal and distribution line on item L that is a plug to zero out your capital a/c. this is your tax basis for the 8949.
now the interesting part must check final k-1 and link to the disposition
in the disposition section complete part II
sales price line 5 - only enter the ordinary income subject to recapture
basis line 7 is $0
ordinary income line 10 is the same as line 5
this will flow to form 4797 line 10
not all MLP's have ordinary income on sale. so 0 would be used for line 5
