Thanks for your response. So are you saying that as it currently stands, I am being taxed on Schedule D STCG via the brokerage 1099, and also a similar amount via the K-1? That is what I believe. It seems like the 1099 data should be zeroed out as you suggest (I think?), but I have no idea how to do that since I entered all the data from K-1 and its supplements into TT per instructions. Granted, a few of the TT K-1 instructions are unclear so I could have made a mistake, but I tried adjusting various entries to no good result. I could always adjust the Sched D proceeds & cost numbers to eliminate this transaction but no doubt that is a bad idea even though I think it would result in the correct numbers. I assume the problem is in my K-1 entries, but do you have any idea what part it would be in, or what I should look for?
