The pieces of information provided don't seem to gel at this point:
- Based on the information provided, it appears you purchased the BNO and sold it in the same year.
- If that assumption is correct, the pieces don't fit.
- It appears that you contributed the $160,250. This is confirmed on the K-1 and also the brokerage account for cost basis.
- You have K-1 activity, however, it appears that there must be $87 of income somewhere else on the K-1 to arrive at the cumulative amount of $55,091 (loss of 55,114 + other deductions of 64 = a loss of $55,178).
- We will continue on using the $55,091 figure. Using this, your basis in this investment is now $105,159.
- Here is where the confusion begins. The K-1 appears to show that you received a distribution of $105,159? Is that correct? You then state that the brokerage statement reflects proceeds of $173,396.16. These two "distribution" amounts don't reconcile.
- In most cases you should be able to reconcile the K-1 information to the brokerage statement; while reflected differently, at least they should reconcile once adjusted. In this case, I don't see the pieces fitting together.
- What was the actual proceeds / distribution you received?
- Need to understand the interplay of this transaction between Robinhood and Schwab.
- Need to understand if the $160,250 represents the entire purchase.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
