I have had DB Powershares Commofity for the past 3 years and always report the distribution, etc. per the K-1 I receive. In 2008, I sold the DB Powershares. I have received the K-1, as always, but on my brokerage 1099-B statement it shows the dates bought and sold, the cost basis, the sales price BUT for Gain or Loss it shows NC. NC means results may not be calculated for transactions which involve the amortization of premium, the repayment of principal, the sales of partnership interest ... I thought that I would simply take the sales price of 10 minus the cost basis of 6 and report a capital gain of 4 inadditiona to the normal K-1 reporting. My broker said "the gain/loss column shows NC because the gain/loss will be determined by information you receive from the K-1 statement". This implies that I report the K-1 detail, but do not show a normal sale of the DB Commodity (like a stock) with the normal buy/sell, date/price and traditional gain/loss. I understand the K-1, but can someone clarify the capital gain/loss for the sale?
