topic The question of valuation of each partner's basis is not... in Business & farm https://ttlc.intuit.com/community/business-taxes/discussion/the-question-of-valuation-of-each-partner-s-basis-is-not/01/150236#M4569 <P>The question of valuation of each partner's basis is not really a matter of the tax filing itself except that the final computations must be used when filing the Form 1065.</P><P>Instead, the information that you have presented as to each partner's contribution, and therefore Partner Ownership Interest,&nbsp; speaks to your need to use a business evaluation that takes in to account the funding amounts provided and the Fair Market Value of the services you provide.&nbsp; In the latter case, you would have to come to an agreement with your partner as to what would those services cost if a 3rd party, at arms-length, were to be paid to provide identical or near identical service.</P><P>Some ideas presented by this author:&nbsp;<A rel="nofollow" href="https://www.thetaxadviser.com/issues/2014/oct/case-study-oct2014.html" target="_blank">https://www.thetaxadviser.com/issues/2014/oct/case-study-oct2014.html</A></P> Sat, 01 Jun 2019 07:57:01 GMT ScruffyCurmudgeon 2019-06-01T07:57:01Z What is the adjusted basis for a LLC partner who only contributes services? https://ttlc.intuit.com/community/business-taxes/discussion/what-is-the-adjusted-basis-for-a-llc-partner-who-only-contributes-services/01/150232#M4568 <P>My friend and I have a LLC taxed as partnership. My friend contributes the funding as needed, and I provide the services only. What is my adjusted basis for tax purpose?</P> Sat, 01 Jun 2019 07:56:59 GMT https://ttlc.intuit.com/community/business-taxes/discussion/what-is-the-adjusted-basis-for-a-llc-partner-who-only-contributes-services/01/150232#M4568 mszhang 2019-06-01T07:56:59Z The question of valuation of each partner's basis is not... https://ttlc.intuit.com/community/business-taxes/discussion/the-question-of-valuation-of-each-partner-s-basis-is-not/01/150236#M4569 <P>The question of valuation of each partner's basis is not really a matter of the tax filing itself except that the final computations must be used when filing the Form 1065.</P><P>Instead, the information that you have presented as to each partner's contribution, and therefore Partner Ownership Interest,&nbsp; speaks to your need to use a business evaluation that takes in to account the funding amounts provided and the Fair Market Value of the services you provide.&nbsp; In the latter case, you would have to come to an agreement with your partner as to what would those services cost if a 3rd party, at arms-length, were to be paid to provide identical or near identical service.</P><P>Some ideas presented by this author:&nbsp;<A rel="nofollow" href="https://www.thetaxadviser.com/issues/2014/oct/case-study-oct2014.html" target="_blank">https://www.thetaxadviser.com/issues/2014/oct/case-study-oct2014.html</A></P> Sat, 01 Jun 2019 07:57:01 GMT https://ttlc.intuit.com/community/business-taxes/discussion/the-question-of-valuation-of-each-partner-s-basis-is-not/01/150236#M4569 ScruffyCurmudgeon 2019-06-01T07:57:01Z
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topic The question of valuation of each partner's basis is not... in Business & farm
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https://ttlc.intuit.com/community/business-taxes/discussion/the-question-of-valuation-of-each-partner-s-basis-is-not/01/150236#M4569
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<P>The question of valuation of each partner's basis is not really a matter of the tax filing itself except that the final computations must be used when filing the Form 1065.</P><P>Instead, the information that you have presented as to each partner's contribution, and therefore Partner Ownership Interest,&nbsp; speaks to your need to use a business evaluation that takes in to account the funding amounts provided and the Fair Market Value of the services you provide.&nbsp; In the latter case, you would have to come to an agreement with your partner as to what would those services cost if a 3rd party, at arms-length, were to be paid to provide identical or near identical service.</P><P>Some ideas presented by this author:&nbsp;<A rel="nofollow" href="https://www.thetaxadviser.com/issues/2014/oct/case-study-oct2014.html" target="_blank">https://www.thetaxadviser.com/issues/2014/oct/case-study-oct2014.html</A></P>
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What is the adjusted basis for a LLC partner who only contributes services?
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https://ttlc.intuit.com/community/business-taxes/discussion/what-is-the-adjusted-basis-for-a-llc-partner-who-only-contributes-services/01/150232#M4568
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<P>My friend and I have a LLC taxed as partnership. My friend contributes the funding as needed, and I provide the services only. What is my adjusted basis for tax purpose?</P>
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The question of valuation of each partner's basis is not...
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<P>The question of valuation of each partner's basis is not really a matter of the tax filing itself except that the final computations must be used when filing the Form 1065.</P><P>Instead, the information that you have presented as to each partner's contribution, and therefore Partner Ownership Interest,&nbsp; speaks to your need to use a business evaluation that takes in to account the funding amounts provided and the Fair Market Value of the services you provide.&nbsp; In the latter case, you would have to come to an agreement with your partner as to what would those services cost if a 3rd party, at arms-length, were to be paid to provide identical or near identical service.</P><P>Some ideas presented by this author:&nbsp;<A rel="nofollow" href="https://www.thetaxadviser.com/issues/2014/oct/case-study-oct2014.html" target="_blank">https://www.thetaxadviser.com/issues/2014/oct/case-study-oct2014.html</A></P>
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