@Faustind i can't answer why the broker did not report the transaction. contact TC pipeline and your broker
https://www.tcpipelineslp.com/contact/ these are Canadian companies and so I can't say what the reporting requirements are for them to US brokers. nor could I find any tax info on the web as to how to treat the merger. there is US tax Law, Canadian tax law and US/Canadian tax treaties,
normally when there is a proposed merger you would have received some documentation form the companies about it an that would normally describe the tax consequences.
the PTP is gone. it is now part of the corporation through the merger
every PTP/company merger that I've seen (and I've been doing this for decades) resulted in the merger being taxable but this is two Canadian businesses
there is always the possibility that the broker did not have the info to report the transaction at the time the 1099-B was issues. a latter 1099-B could come out reporting the sale. the only item likely to be correct is te sales price.
You should have received .7 TCP for each share of the PTP you had. the FMV of TCP on the date the merger closed would be the value but again these are Canadian companies that trade on the Toronto exchange so a conversion from C$ to US$ may be necessary.
if the merger was taxable the FMV of the new security vs the tax basis of the old security is the gain or loss. usually, a worksheet is provided to allow shareholders to computer the income
you also report the info on the k-1 and if it was indeed taxable merger you indicate a disposition so any suspended losses are freed yp.
note these are Canadaian companies so I can't speak to the QBI question
