with a partnership, your tax basis starts with what you invested. that goes up by any income and down by losses expenses and distributions. The broker does not track tax basis because it does not get the k-1. What the broker shows on the 1099-B is your original cost for the shares sold. Do not use it. THIS IS NOT YOUR TAX BASIS.
ASSUMING YOU BOUGHT THEM AS OPPOSED TO BEING GIFTED OR INHERITING THEM, YOUR TAX BASIS FOR THOSE SOLD WOULD BE ON THE SUPPLEMENTALSALES SCHEDULE. COLUMN 6 WHICH REPORTS TAX BASIS (before ordinary income recapture) + COLUMN 7 THE ORDINARY INCOME
MORE INFo some states do not allow for bonus depreciation. if done correctly federal bonus deprecation would have been an add-back on your state return (but not federal). In this case the PTP will report the proper adjustments to basis for state reporting purposes and ordinary income in columns 10 & 11 (ie if you added back bonus depreciation for state purposes substitute column 10 for column 5 and recompute your tax basis in column 6. then ordinary income recapture is in column 11 which would get added to the revised column 6 tax basis. NOTE that this is only for state reporting purposes when there's bonus depreciation for federal but you adjusted the profit and loss reported for state.
read hat's om the sales worksheet describing the various columns.
