I received a K-1 after investing in Proshares UCO, SCO and BOIL in 2023. All of these were on my 1099 but I also received a surprise K-1 in March after my taxes were completed. Overall, I made about $15,000 on these 3 stocks last year. Adding the K-1 increased my tax burden by over $2000. Seems like double taxation to me but my accountant says it's legit! Think twice about buying Proshares leveraged commodity ETF's.
