twd
New Member

1. How to adjust 1099 reported basis in sale of Publicly Traded Partnership to reflect K1 Cumulative Adjustments. 2. Where/how to enter its Oridinary Gain?

The basis reported in 1099B is cost. But payments received from a Publicly Traded Partnership are treated as reductions to its basis when sold. 

How/where are these Cumulative Adjustments entered in T-Tax to reflect reduction of Cost Basis?

And how/where is an Ordinary Gain reported?