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Investors & landlords
The UBIA reported for Schedule K-1 Box 20 (QBI) is not related to your tax basis in the investment. In most cases, your tax basis is your calculated partnership basis, not the ending capital that appears on Schedule K-1 Part L.
Your calculation of adjusted basis appears to be accurate, as long as there were no other adjustments on prior K-1s for items specifically allocated to you (and not reported in the allocated partnership income). These items are typically reported on a Supplemental Information page that comes with Schedule K-1, and may include charitable contributions, non-deductible expenses, etc.
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‎April 15, 2024
5:24 AM
20,655 Views