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- partnership outside basis worksheet
partnership outside basis worksheet
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baram
Level 1
09-22-2022
02:53 PM
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I am new to Proseries. Our client received partnership K-1 with 250K loss, and I can not locate outside basis worksheet. I only see 6198. Do I have manually calculate it, attach as a pdf, and override Nonpassive loss on sch E? Thank you for your response in advance.
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Terry53029
Level 14
09-22-2022
03:57 PM
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You have to manually track clients basis in ProSeries. You don't have to attach it as a pdf, just keep track of the basis. What I do is on the K1 assuming line 2. I open the supporting statement, put basis on 1st line, and loss on second line. Then you don't have to override.
