I purchased USO ETF and got K-1. Even I did not get any income, interests or dividends, on K-1 those boxes have some positive amounts. Now I had sold everything for this USO ETF and transaction appears on 1099. My understanding is I have to pay tax for those "income" (even I never get them). My questions are why K-1 boxes show those positive amount (it indicates my "income" or something else) ? Should I pay tax on those void income? How do I handle this on my tax return?
Thank you very much for your advice!
