@EleK Unfortunately, I don't think K-1s are ever easy. TT does make it easier, once you've figured out how to massage TT.
On your 1099-B, during the interview a question will come up where you can check the box that "My cost basis is incorrect" and it will allow you to enter the correct one. That's the easiest way I found to make the fix.
As to the K-1 and Ordinary Gain, there are multiple paths to the same place. The problem with TT's instructions is that the "Enter 0 for sales, Enter 0 for basis" is incorrect if you have Ord Gain. That's why you have to ignore that. AND, given that the K-1 includes an entry for AMT adjustment to everything we've been talking about, that has to be handled somehow too.
My method (0 for sales, partnership basis set to the inverse of the Ord Income) handles the AMT adjustment and gets the Ord Income done. Mike's method (Ord Income for sales and 0 for basis) handles the Ord Income but you then have to handle AMT elsewhere in the interview. I find that too complex, so recommend a different path. The key is to make sure you're actual tax forms reflect the right numbers. Both methods will get you there. Its just a question of dealing with the AMT piece.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
