I cannot get my head around why a non deductible expense, box 18 code C on K-1 decreases adjusted basis. For example, on a 1065 for bare land, is keeping the fire danger down by keeping the weeds cleaned up (hiring someone) . I don't plan to take the expenses off anywhere...just a cost of maintaining the bare land in a state with lots of fires. Why would the decrease my basis in the bare land which increase my profit when I sell it? whoops..hmmmm. ..have I just said the answer? Thanks for letting me reach out TT helpers!
