PatriciaV
Expert Alumni

Get your taxes done using TurboTax

Remember that TurboTax tracks the INSIDE Partner Basis from the partnership's perspective and may not be the same as the partner's actual investment (OUTSIDE) basis due to transactions and income/expense allocations that may be specific to that partner's investment in the partnership. 

 

Here is the link to the IRS Partner Basis worksheet: Form 1065 Schedule K-1 Instructions (page 7).

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