Investors & landlords

@Sis-Q It sounds like you did the K-1 fine.  But the adjustment on the 1099-B may have missed a couple things:

• The broker sent you a 1099-B with a cost filled in.  That cost -- the one the broker supplied -- may not be correct.  It should be the initial amount you paid for the shares.  Some brokers adjust that cost, so make sure you double-check.
• Adjusting the 1099-B requires you use both the "Adjustments" as well as the Ordinary Gain.  The cost you enter on your 1099-B should be "Purchase Price"+"Adjustments"+"Ordinary Gain".  So if you bought for $100, had ($30) in adjustments, and $10 in Ord Gain, you'd enter $80 as your cost.  All of that would be split 90/10 in your example.