your partnership basis is what you put in (purchase price) + all the income reported on the k-1's - all the deductions reported on the k-1 - all the distributions. actually, there should be no need to go through this. a MLP provides a supplemental schedule when units are sold that show that gives you all the info you need. it would include:
a) units sold
b) sales date
c) purchase price
d) cumulative adjustments to basis
e) cost basis which should be your tax basis and should equal c) less d) (minor difference is possible due to rounding
f) maybe gain subject to recapture as ordinary income
thus
sales price (per 1099-b)
less e) = gain
gain less f) if applicable = capital gain
