What is inside and outside basis?

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  • July 21, 2014 at 12:44 am #187109
    Anonymous
    Inactive

    What is inside and outside basis? Is inside basis what the partnership assets are worth for a particular partner?

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  • July 21, 2014 at 1:27 am #581770
    Anonymous
    Inactive

    Outside basis is the basis partners have in the partnership and inside basis is the basis the partnership has in its assets. Inside basis usually comes from partner contributions, but may also come from purchases the partnership makes with partnership funds.

    July 21, 2014 at 1:39 am #581771
    Anonymous
    Inactive

    Cool. Thanks man.

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