[Elena]

Hi guys,
I’m kinda confused by the outside basis calculation illustration in the REG book.
I can’t insert a screenshot here but on the page 9 chart shows that you should deduct partner’s % of partnership liabilities to arrive to the net outside basis, but IRS Pub 541 says that

A partner’s basis is increased by the following items.
The partner’s additional contributions to the partnership, including an increased share of, or assumption of, partnership liabilities.

What am I missing here?

Thanks!

[monikernc]

What I tried to say and was blocked from doing so is that Roger has partnership tax basis videos on you tube that explains this so elegantly.

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
State of Colorado June 2020 - AICPA Ethics 93
Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[monikernc]

@Elena watch this and the other Roger partnership videos – he will walk you through it. https://youtu.be/ATSEhnkqYEM

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
State of Colorado June 2020 - AICPA Ethics 93
Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[Elena]

Thank you!!
I have Roger review and I watched the videos and then decided to refresh by just reading REG book and noticed this. I'm just curious if I get any explanation from the support team.

[Author]

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