Partnerships
Outside basis rollforward
Build a simplified partner-basis schedule and see where the basis loss limitation begins.
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Sources to check
IRS Publication 541 · Partnerships ↗Ending outside basis
$0
Basis before money distributions$40,000
Cash plus deemed money$15,000
Basic distribution gain$0
Loss passing the basis limit only$24,000
Loss suspended by basis limitation$6,000
Nondeductible expenses above available basis$0
What this model assumes
- Simplified annual outside-basis rollforward: increases, money distributions, nondeductible expenses, then losses. Contributions use adjusted tax basis, not fair market value.
- Only net liability changes are entered; current income, gains, and losses must be separated. Money distributions are evaluated using the simplified year-end ordering.
- Assumes cash distributions only. Does not determine debt allocation, book or tax capital, §704(c), §743(b), at-risk, passive-loss, excess-business-loss, §163(j), or other limitations. Basis-allowed loss is not a conclusion that the loss is currently deductible.
Educational summaries, not individualized tax or legal advice. Check the source, applicable tax year, effective dates and subsequent developments. External sources are independent of Syso.tax.
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