Thank you! Now, my sales schedules shows two sale dates (corresponding to the two sales in my 1099B), and it looks like the adjustments to basis are split up across the sales such that one of the cost bases drops into the negative. I know from another post you mentioned this corresponds to more complex cases, but my situation is simple i.e. bought and completely sold the PTP within the same year. Now out of these sales, the one that ends up with a negative adjusted basis is reported "box C" on the 1099-B, while the other is "box A".
Since it won't let me correct the basis to be a negative number, I'm thinking one way would be to "zero out" the 1099-B records (by making basis = proceeds) and then entering in the actual proceeds and adjusted basis for the two sales total in the K1 section. This is definitely less ideal though, and I was wondering if you would recommend some other way?
The problematic sale is a very low amount, initial basis $35, adjustments to basis $38, so cost basis -$3. The corresponding proceeds is $14. Since this is "box C" and therefore not reported to the IRS, could I hack it by just bumping up all the numbers by 3? I.e. proceeds $17, cost basis $0? Or is that too shifty, no pun intended
Thanks again @nexchap !
