I got a Schedule K-1 from United States Oil Fund, LP (USO) with a 2020 Sales Schedule.
The Sales Schedule shows a bunch of lines of transactions. The last line is Total as following:
(1) Units Sold: 77,8750
(2) Sale Date:
(3) Sales Proceeds:
(4) Purchase Price/Initial Basis Amount: 3,216
(5) Cumulative Adjustment to Basis: -97
(6) Cost Basis: 3,119
I studied this video and learned I need to adjust my cost basis on 1099B.
Say my 1099B 1(e), Cost or Other Basis for USO is showing 5000.
My question is when I try to enter the cost basis on Form 8949, do I
(1) enter the adjusted cost basis which is 5000-97 = 4903 on Form 8949 Part I 1 (e)
or
(2) enter 5000 on Form 8949 Part I 1 (e), and -97 on 1 (g)
If (2) is correct, which code should I use for Form 8949 Part I 1 (f)?
Thanks.
