how do I calculate my basis for K1 investment?

[adamhale55]

TurboTax asked "Enter losses as negative numbers. Do not enter a loss amount that is more than your basis." For a partnership LLC investment, how do I determine my basis from my K1?

[PatriciaV]

Your basis in the partnership is based on several factors, including your initial investment, distributions, additional contributions, and net income/loss each year. If you need help calculating your adjusted basis, see the IRS Worksheet for Adjusting the Basis of a Partner's Interest in the Partnership.