there should have been a form included with the k-1, usually titled 2016 sales schedule, to allow you to compute your basis and capital vs ordinary gain/loss. look for it. the first column on the schedule will have the units disposed, next column acquisition date, next disposition date, next sales proceeds - you will need to fill this in for each disposal, next purchase amount - you will need to fill this in for each disposal use your original purchase price including commissions, next column adjustment to basis which is prefilled. your adjusted cost basis is the purchase amount + adjustments to basis (subtract if the amount is negative). your total gain or loss, next column, is the sales proceeds less the adjusted cost basis. the next column is ordinary gain which is prefilled if it applies. if the amount is positive subtract it from the total gain or add to to total loss( do the opposite if the the ordinary amount is negative) to arrive at the capital gain/loss next column. the capital gain/loss portion is reported on form 8949 - long term or short term section as appropriate and coded that basis was not reported to the IRS. the ordinary income/loss goes on form 4797 line 10. don't forget to enter all the info on the k-1 - also indicate if this was a complete disposition
