Your Capital Account and Your Basis are similar but aren't necessarily the same.
Your capital account measures the investment in the LLC.
Your basis measures the adjusted basis of your interest with the consideration of partnership/LLC liabilities.
Generally, LLC basis is usually the member's capital account plus the member's share of the LLC's liabilities.
A member's basis should not be negative (because losses in excess of basis are not allowed and are carried forward) (while a member's capital account can be negative, depending on losses and/or distributions.)
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