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How to determine partnership basis from K1
If we sold the business owned by the partnership at a loss, where on the K1 would I find the numbers to determine partnership basis requested in TurboTax? Is it from the L Box, which the accountant checked as "tax basis"? If so, is it the ending capital account number? Or something else? I'm really confused. Why doesn't TurboTax tell me where to get this number?
‎September 22, 2019
4:03 PM