I was trading UVXY(ProShares Ultra VIX Short-Term Futures ETF), and just saw/recieved Schedule K-1(Form 1065) of 2021/2022. I didn't do anything for it with tax, and now working on 2023 tax, what should i do?
ProShares Ultra VIX Short-Term Futures ETF (UVXY) is a publicly traded partnership so the purchasse and sale complicated your reporting for 2021 and 2022. your 1099-B for those years misreported your tax basis. You may also be subject to the wash sale rules. The k-1 info for each year needed to be reported. You have a difficult situation that probably would require the services of a tax pro to properly amend your 2021 and 2022 returns.
the 2023 k-1 has not yet been issued but you'll need it to do your 2023 1040
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