Hi nextchap,
The last page of my K-1 (2020 SALES SCHEDULE) has a column called "5. Cumulative Adjustments To Basis", which is exactly -1,924.
But for A/D (basis reported to the IRS), in 1099-B, there are many transactions.
I do see that there is a spot in the interview to make the adjustment. However, given so many transactions in 1099-B and only 1 adjustment from K-1, do I just pick the last transaction of SVXY I had on the 1099-B as a representative, check "incorrect basis", and then put in "-1,924" for the correct number?
Or do I create another 1099-B, one liner, from scratch for SVXY, have $0 and $0 in cost basis and proceeds, check "incorrect basis", and put in "-1,924" there instead?
Thank you!
