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April 4, 2025
Question

how do I calculate my basis for K1 investment?

  • April 4, 2025
  • 1 reply
  • 0 views
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?

    1 reply

    PatriciaV
    Employee
    April 6, 2025

    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.

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