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New Member
posted Jun 4, 2019 2:17:21 PM

K-1 has an amount for "allocable share of debt: Nonrecourse debt" which I entered into K-1 Part II-K (1065)-no effect on taxes. Should the amt be entered elsewhere, too?

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New Member
Jun 4, 2019 2:17:22 PM

No, that's part of the basis calculation, which is a running total of your investment in the partnership. All of the items to the right (for each year), plus your initial investments, are what make up your p-ship basis. When you sell your interest or the partnership dissolves, you'll need this information. 

1 Replies
New Member
Jun 4, 2019 2:17:22 PM

No, that's part of the basis calculation, which is a running total of your investment in the partnership. All of the items to the right (for each year), plus your initial investments, are what make up your p-ship basis. When you sell your interest or the partnership dissolves, you'll need this information.