Business & farm

TT doesn't track a partner's tax basis, which is why there is no question.

However, each partner is responsible for tracking their tax basis in order to determine; allowable losses, tax impact of distributions, gain or loss upon exiting the partnership.

This can easily be done in excel.

If you do a google search you can most likely find a template out there.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.