Final PTP K-1 in TurboTax: 1099-B, Section 1256, Box 20/199A, and disposition questions
Hi, I’m trying to correctly enter a Final K-1 for a publicly traded partnership (Icahn Enterprises LP / IEP) in TurboTax, and I want to make sure I’m not double counting anything.
Here is my situation:
- I received a Final K-1 for Icahn Enterprises LP (IEP)
- I fully disposed of all units in 2025
- I also received a Schwab 1099-B

- My 1099-B shows IEP unit sales under short-term transactions:
- Proceeds: 4,012.69
- Cost basis: 5,026.00
- Realized loss: 1,013.31
- Separately, my 1099-B also shows Options Subject to Section 1256 Reporting for IEP call options:
- Total Section 1256 amount: 531.03

- Total Section 1256 amount: 531.03
From my K-1 / supplemental schedule:



My questions are:
- For the IEP unit sales on 1099-B, should I enter them exactly as reported first, or do I need to adjust basis/proceeds myself to avoid double counting with the K-1 disposition section?
- My understanding is that the Section 1256 options on 1099-B are separate from the K-1 partnership disposition and should be reported separately on Form 6781. Is that correct?
- In the K-1 disposition section:

- Should I enter purchase date as “Various” or Should I use the final sale date for the disposition screen?
- In the K-1 sale information section:
- Should ordinary gain be the Section 751 gain of 4?
- Since unrecaptured Section 1250 gain is zero, should 1250 gain be entered as 0?
- are the numbers I entered correct for both regular Gain or Loss part and AMT gain or Loss part?
- My supplemental K-1 statement includes many Box 20-related items, such as 20V, 20Z1, 20AB, 20AE, 20ZZ10, 20ZZ11, and 20ZZ12. Do I need to manually enter all of these in TurboTax? I’m especially confused because -113 appears multiple times on the supplemental statement. Should that same amount be entered more than once in different places, or would that double count it?

On the TurboTax screen “We need some information about your 199A income”, I entered:
- Ordinary business income (loss): -113

Is that correct? should I enter anything else? should the Section 751 gain of 4 be included there?
- Ordinary business income (loss): -113
- Also, where should the 20ZZ10 (-99) partnership interest disposition adjustment for Section 163(j) be reflected in TurboTax?
I’d really appreciate guidance from anyone who has entered a Final PTP K-1 + 1099-B + Section 1256 options in TurboTax before.
Thank you!