1120-US: Partner's Basis Worksheets FAQs

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The following includes answers to common questions about processing Partner's Basis Worksheets.

How does the Partner's Basis Worksheet calculate the basis limitation on the deductibility of a partner's share of partnership losses?

What losses and deductions are included in the basis limitation of the partner's share of partnership losses?

How are charitable contributions and foreign taxes treated on the Partner's Basis Worksheet?

Why doesn’t the AMT depreciation adjustment from the K-1 pass-through transfer to Form 1120S, Schedule K, line 15a?

Why does UltraTax/1120 combine Schedule K-1s received from the same partnership into one Partner's Basis Worksheet?

How is partner basis information shared from 1065 clients to 1120 clients?

Related topic: 1120 frequently asked questions

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