@INSPECTORBOBONE For original cost, you should default to your records. The K-1 preparer doesn't see the original purchase records, so they use whatever number the broker sends them. If you contact the K-1 preparer, they'll usually correct and reissue the K-1 (optional). But also note that the 1099-B can't always be trusted either. That's because some brokers may adjust your original cost for any return-of-capital distributions, which isn't at all helpful because those are also in the K-1 adjustments. So bottom-line, adjust the 1099-B using your records for cost, and the adjustments given on the K-1.
@PatriciaV
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
