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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.
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.
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