Again, thanks a lot for your instant response.
Let me state that I had sold ALL my units in 2017 and got final K-1 and Sales Schedule now.
I am a little bit confusion regarding how to calculate final Gain or Loss.
For example,
Sales price = $200
Purchase/Cost = $300
Original 1099-B shows Cap Gain or Loss of ($100)
Sales Schedule shows Cum Adjustments of ($70)
New basis is $230
Enter $230 under correct cost on the 1099-B
Cap Gain or Loss is now ($30)
In this way, it seems the more I lost from the transaction, the more tax I should pay, because loss is becoming less? Compare ($100) before apply Cum Adjustments and ($30) after apply Cum Adjustments for Cap Gain or Loss. Is that the case?
In my mind, I thought it should be this way?
Sales Schedule shows Cum Adjustments of ($70)
New cost will be $300 + $70 = $370
Enter $370 under correct cost on the 1099-B
Cap Gain or Loss is now ($170)
My understand for Cum Adjustments is a negative because it all about loss, no any gain. That way, it cannot make cost amount even less.
Please correct me if I was wrong. Thanks a lot for all your time and efforts towards helping me.
