Hello,
I traded UNG in 2023, I received both 1099-B and K1.
In 1099-B, the Box B is checked, sold for $6,486 and cost base was $10,639 (for a loss of $4,153);
In K1:
Beginning: 0
Ending: 0 (bought and sold in the same year)
In L: Capital contributed during the year: $10,640,
Current year net income (loss): ($3,745)
Withdrawl and distributions: ($6,895)
Box 5: Interest income $267
Box 6: Ordinary dividends: $65
Box 11-C: Other income: ($2,738)
Box 11-ZZ: ($1,287)
Box 13-ZZ: $52
Box 20-A: Other information $332
Box 20-AA: $757
I read other threads on this website, I understand that I need to add the "Current year net income(loss)" in K1 to the cost base in 1099-B. In this case, since the "Current year net income (loss)" is a negative amount, so I should change the cost base in 1099-B to $6,894 ($10,639-$3,745)?
Please Help.
Thank you.
