In the Schedule K1 section, "Enter Sale Information" screen it is asking for my "Partnership Basis", what is that & how do I calculate? I don't see it on Sched k1 / 1099B

[PatriciaV · Accepted solution]

Basis is your cost in the investment. It includes the purchase price of the initial investment (plus commissions and other purchase expenses), plus or minus any basis adjustments that occur while you own your interest in the investment. Adjustments to basis may include contributions you make, distributions you receive, income or loss allocated to you, etc.

Your basis is rarely the same as the ending capital balance shown on Schedule K-1.

See: IRS K-1 instructions or IRS publications 541 and 925 for more information on determining your basis.

[Jquez]

That is way too textbook.

[proventer]

Copy and paste from a textbook.