@dpreas2017 Nothing on the K-1 itself is used to adjust the 1099-B. You're only using the numbers provided on the "Sales Schedule", which the K-1 preparer includes with the K-1 in the year's when you sell.
Your sales schedule will show a "Cumulative Adjustments to Basis". You add that to your starting purchase price. If you happen to have Ordinary Gain reported on the Sales Schedule, you'd add that too. So as an example:
Purchase Price = 100
Cumulative Adjustments = -33
Ordinary Gain = 20
Basis on the 1099-B - 100 + (-33) + 20 = 87
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
