Schedule K-1

The K-1s include all the taxable activity for the partnerships, so they have to be entered to report that info.  The 8949 is used to report your gain/loss on the sale of the partnership, so that is entered as well.  Note that entering sale information gets tricky, since the K-1 asks about it as well and double counting can occur if not handled appropriately.

On the K-1, when it asks about the sale, enter 0 for everything UNLESS you have Ordinary Gain reported on the sales schedule.  In that case,

1. enter 0 for sales price,
2. there are two columns for Ordinary Gain, one regular and one for AMT.  Enter the info from the Sales Schedule, adding the AMT adjustment for that column.  As an example, if Ord Gain was 100, and the AMT adjustment was -30, you'd enter $100 and $70,
3. enter the inverse of the Ord Gain numbers for basis.  Using the example, this would be -100 and -70.

On the 1099-B, you'll need to adjust your cost basis.  The correct value is [what you originally paid] + [the cumulative adjustment shown on the K-1 Sales Schedule] + [the Ord Gain]