ETF - 1099B & K1 wash sale

[K83]

I brought an ETF (BOIL) and gotten both 1099B and K1.  Under the 1099B short terms transactions (reported to irs),  there are some transaction tagged as wash sale.  Looking at the supplemental information.  I sold some etf on 10/1 without any wash sale and sold more etfs on 10/10 some with wash sales and some without.  In looking at the sale schedule from k1, they only list one line per sales day.  For the 10/1 trade, i took the cost basis from k1's sales schedule and adjust my cost basis on 1099b (i aggregate all the lines).  My first question, i have multiple line items from 10/10 some with wash sale and some without (based on readying you can't aggregate wash sales).  How do i take the one reported cost basis from k-1 and split it to 1099b line items ( say 5 wash sales and and 3 non wash sales.

@nexchap any thoughts?

[nexchap]

@K83 Under IRS ruling 84-53 (probably mentioned on your K-1) "a partner has a single basis in its partnership interest" which basically means your cost basis is always average cost.  So while you may be telling your broker to trade specific lots, the partnership is going to give you cost basis adjustments assuming average cost.  That's why you only see one line per day traded.

What that means is that:

a) the wash sales and tracking being reported by your broker aren't going to be accurate.  You have a wash sale if you sold for a loss (using your adjusted basis) and bought the same security within 30 days before or after that sale.  Since the broker doesn't know your adjusted basis, they don't know if you actually had a wash sale.

b) you'll have to use your own records to track each wash sale, moving the loss (and holding period) from the sold shares to the purchased ones.

c) PTPs are a nightmare for active trading.

TT isn't going to support any of this tracking.  All it will do is let you enter the K-1, and adjust the 1099-B to whatever you calculate as accurate.

[K83]

@nexchap Thank you for the quick response.  I am still unsure about how to allocate the adjusted cost basis to the 1099b. In the screenshot, do i take the 50,806 as the adjusted cost basis and update that in my 1099b for each row?

[nexchap]

@K83 The simplest thing would be to allocate the adjustments proportionately (based on both holding period and shares).  But I'm not a CPA, and don't know if "the simplest thing" violates some IRS rule when the instructions you give your broker (sell specific lots) conflict with partnership cost basis accounting.