@MaxTax00 You may want to post this as its own question to get more expert eyeballs on it. I see it as two different questions:
a) What would the IRS expect to see: the Cap Gain all reduced in short term, are split between long and short
b) How to make sure TT does that.
I don't know the answer to 'a', and don't want to guess or mislead. But once you get it, the adjustment in TT is probably easiest in 'Forms' mode, in the Form 1099-B worksheet. You can adjust the short term data you received from the broker by changing the cost to give you the correct Short Term gain/loss. And if you need a long term adjustment, you can create a new 1099-B with a code F for that number.
You can probably find other ways to do this as well. In the end, the important part is being able to document to the IRS (if ever questioned) that you declared and paid taxes on the right amounts of income.
The only other thing I'd offer is that the Sales Schedule that came with the K-1 might give you the answer to part 'a' of this, since it ought to show the adjustments to basis and how to split them. But like I said above, I'm not familiar with USO or any of the guidance they give.
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
