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New Member

# How do I calculate basis of partnership interest from a stock trade?

I bought and sold 100 shares of EPD. I have the schedule K-1.

Accepted Solutions
Level 15

## How do I calculate basis of partnership interest from a stock trade?

Many times the K-1 will show the basis.

It is in very general terms, the cost you paid for the partnership interest, plus the income reported, less the losses taken, when the K-1 was reported. .

The following IRS publication 541 has much more detail on this.

6 Replies
Level 15

## How do I calculate basis of partnership interest from a stock trade?

Many times the K-1 will show the basis.

It is in very general terms, the cost you paid for the partnership interest, plus the income reported, less the losses taken, when the K-1 was reported. .

The following IRS publication 541 has much more detail on this.

New Member

## How do I calculate basis of partnership interest from a stock trade?

If I paid \$2219 for the shares of EPD. I received \$39 in distributions/dividends. My current year increase (decrease) on K-1 section L = -\$74. Is my basis of partnership interest = 2106?
Level 15

## How do I calculate basis of partnership interest from a stock trade?

Yes, that is also what I came up with
New Member

## How do I calculate basis of partnership interest from a stock trade?

I have similar question about calculating the cost basis when the stock was bought and sold in the same year. I see how the cost basis is calculate. But what happens to the cost basis of 2106 the following year? Does anything happen?
Level 15

## How do I calculate basis of partnership interest from a stock trade?

If bought and sold in the same year there is no basis in it, as it was sold and nothing exists for the following year.
New Member

## How do I calculate basis of partnership interest from a stock trade?

I am confused.  From the question, it seems like this person bought and sold shares of a publicly traded company, which I assume the person would also have a 1099-B.
Is the answer to this question assuming the person doesn't have a 1099-B?

From another related question at <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/3242541-i-have-both-a-1099-b-and-a-schedule-k-for-the-same-sale-wh...>

A turbo tax agent answered that we don't have to calculate basis for schedule K, and only input sales and purchase info into the stock section.  Who is right?
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