Hi Jtax,
Thanks for you reply. These investments are publicly traded partnerships (PTP). I always have the limited partner option marked as well as the Domestic partner as an individual.
I do get the 1099-B under my name, what I see in the K1 is that they have different net gains.
I sold this investment and yes the K1 is marked as final.
So basically my realized gain that I know I received is the one on the 1099-B. The K1 shows a different net gain on column 8 based on the sales schedule which is calculated using column 5 on the schedule (cumulative adjustments basis) which includes the cumulative allocable partnership income, deductions, distributions, etc.
Does this helps? What I am planning to do is to keep column 8 blank and avoid double dipping.
Thanks
