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Get your taxes done using TurboTax
@Justin202203 wrote:
Hi Macuser,
Thank you for your reply.
Beside the original $50,000 capital I paid to partnership, I also paid legal fee, lawyer fee, management fee and syndication fee etc when invested cash to get partnership interest, can I add on all these fees when calculate the original basis of partner's interest ?
Thank you very much.
Add to what. We were discussing reporting a return of your investment (i.e. a refund of your own pre-taxed money) that should not be reportable as income. That has nothing to do with any additional expenses you might have had. You do not need to report a refund of your own money. Personal losses are no longer deductible from 2018-2025.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎April 5, 2022
12:58 PM