I'm aware of one idea that involves using an explanation statement that is meant for another purpose, but will efile. That probably works great to get the return into the IRS system. But I don't know enough about how the IRS computers feel about it to know if its a good idea or not.
As to each PTP, generally you'll need to include a statement for each PTP where you sold shares. And you may need a Sec 754 statement for each PTP where you bought shares. Look closely at the verbiage in the K-1 instructions to see what each PTP requires, since the need to include a statement is governed by their accounting decisions. If you do need multiple statements, you can combine them (something like "The taxpayer has reported ordinary income upon the disposition of units in the Partnerships below ...." Include all the required boilerplate text, but then provide a list of the partnerships).
**Say "Thanks" by clicking the thumb icon in a post
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
