Investors & landlords

Invesco does have a handful of ETFs that are organized/treated as partnerships for tax purposes and therefore issue K-1s.  My advice from my original answer remains the same.  You need to report the K-1.  Doing so will result in your having both capital gain or loss as well as ordinary income or loss.  Your cost basis in the initial amount paid for the shares adjusted by the total amounts of income and gain and/or the total amounts of expense, loss and distributions reported on the K-1s.  Since you sold your shares,  the K-1 package should have a sales schedule that includes the total amounts of income, gain, expense, loss and distributions.  TurboTax will guide you through reporting the sale of your partnership shares.  When entering the K-1, Check the PTP box, Check final K-1 (should be marked on your K-1), and Check sold or otherwise disposed of entire interest.  

For your 1099-B, you have to report it too because the IRS is expecting it.  Since the gain or loss was reported via the K-1 entry, you will need to adjust your 1099-B cost basis to prevent reporting the gain or loss twice.  You can do that by changing your cost basis so that it is the exact same amount as the proceeds.  How you adjust your 1099-B will depend on whether its coded with A/D (basis reported to the IRS) or code B/E (basis not reported).

• If B/E, just change the number provided by the broker.
• If A/D, there will be a page in the interview where you can make adjustments.  You should check the "incorrect basis" box and then enter the adjusted cost basis, which will be the same amount as the sales proceeds.