Follow-up comments:
- There is a lot going on here and it is very difficult to provide direction without the ability to see exactly what you have in front of you; but do not post any personal information on a public forum such as this.
- While the notes with the 1099-B appear to be helpful, this assumes that the brokerage is reflecting an accurate tax basis which I doubt is correct. They are correct in that they are helping you only determine your gain in one place.
- A key in your case is what is reflected on your K-1 Part II box L and also Part III box 19.
- Sch K-1 Part II box L
- does this section reflect any distributions
- do the distributions in box L agree to box 20
- does box L "withdrawals and distributions" reflect anything other than just distributions? Sometimes there is an amount on this line to zero out this capital account section.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
