I am working on my taxes and I already loaded from Fidelity the realized gains and loses. So, the account on fidelity has a realized short gain of lets say $1500 for example on one stock. Which is actually the money that I received through my broker account and the money that I should have to pay taxes. However, when I received the K-1, they do some adjustments and on the column 8 Net Short-term capital gain have a a higher number. Lets say $2200. Hence I have 2 questions:
1) If I load the k-1 into my tax return then I will be double dipping the gains. I will have to report and pay taxes on the $1500 plus the 2200 since it does not know that it needs to correct or just use one value. So which one should I use or delete/update? Should I pay on the schedule K1 column 8 or what the 1099-B shows?
2) If I need to use the corrected value from the K1 then should I go to the 1099-B and make corrections to the numbers reported by Fidelity? but this will create a discrepancy. Or should I just keep the 1099B as it is and do not report the column 8 and leave it blank? I did check my previous yer tax return and I found a similar situation where my tax advisor did this.
Thanks
Jesus
