[teresita21]

Back when I worked in practice, I remember something about being able to reconcile a tax-basis K1 taxable income to the box L Current Year Increase/Decrease by adding up the components of taxable income/deductions in Part III. Anyone know what I’m talking about? Or am I just totally confused?

I’m going through the Partnership tax section, simulation #4 and I’m not able to reconcile my TI to CY capital increase like I thought I would.

Any thoughts?

AUD - 97 DONE
BEC - 67, 74, 81
FAR - 74, 81 DONE
Reg - 74, 84 DONE

Wiley paper book self study, supplemented with Roger CRAM

[HumanPiranha]

You are on the right track.

You have to keep in mind that non taxable deductions/income also effect basis.

[teresita21]

Thanks for the sanity check. It was driving me crazy! Then again, it could have just been symptomatic of 4 hours of reading the Wiley book. 😉

AUD - 97 DONE
BEC - 67, 74, 81
FAR - 74, 81 DONE
Reg - 74, 84 DONE

Wiley paper book self study, supplemented with Roger CRAM

[Author]

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