Hello, I read this post and I think it's very helpful. Thank you. I still have a bug which is based on very similar question.
Background: my husband bought and sold UNO in 2023, and he received 1099b and schedule K-1. There are two 1099b, one is non-covered securities, with cost basis reported in form 8949. The sales price is 43,849, and cost basis is 43915. With some wash sales, the gain is $1,808. The second1099b is aggregated loss on contract for 1256 contracts, and the total P/L is -429. The K-1 shows -2,372 in 11c. In the sales schedule, the initial basis is 43,283, the cumulative adjustment to basis is -2,423, and the cost basis is 40,860.
I think I should report both K-1, 1099b and 1256. In form 6781 line 1 I reported -2,372 from K-1 and -429 from 1099b. Is this correct?
In the 1099b, should I adjust cost to 40,860?
Checking schedule K-1 (form 1065) in TT, I have keyed in everything but in Section C: "Income and Loss Reported on Sched E" Column h (Loss K-1) under the non-passive category, there is no number in it. I am not sure what is wrong. It means the losses were not deducted, right?
