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Get your taxes done using TurboTax
If you study section L of the K-1, you'll see that your basis is changed both by actual distributions (these show up on the "Withdrawals and Distributions" line) AND by all the other financials shown on the K-1 (which total to the "Current Yr increase (decrease)" line). That line ("Current Yr increase (decrease)") is what can change your basis far more than actual cash distributions
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
‎June 4, 2019
3:17 PM
2,575 Views