@Critter#2 Thank you for the guidance. Here is what I ended up doing - 1) in the 1099B section, I manually calculated the cost basis (there were cumulative adjustments to the tax basis every year) and I put the cost basis in on the 1099B section. This section was automatically populated with the proceeds # so TT calculated the total gain. My 1099B form from the broker had a header on it that said "Applicable check box on Form 8949 =X" "Type of gain / loss NOT determined" - I told TT this was "X" -> unknown holding period and Box 2- type of gain "L - long term more than a year (which it is)"
For the 2nd part of this 2) under the K-1 partnership questionnaire part of TT, I DID NOT check the box that said "I disposed of this". Instead I pretended that I still had interest in it (and TT will probably ask about this again next year). TT DID need me to fill in all the K-1 details, such as the partners share of income ($28 in short term capital loss as reported on the K-1) etc. I don this step is avoidable as the k-1 is reported to the IRS.
Does this sound right? Am I missing something?
What exactly does the Turbotax questionnaire checkbox "I disposed of this" in the k-1 partnership section translate to in IRS forms?
