Question

How do I enter additional basis contributed on my K-1?

Forum|Forum|1 year ago
March 23, 2025
1 reply
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My K-1 shows a loss for the year, but I contributed more money into it during the year, how do I enter that additional contribution into TurboTax under the partnership income?

TurboTax Online

PatriciaV

Your basis in the company does not affect the income or loss reported from Schedule K-1 on your personal tax return. Even though you had an increased basis, you would still report the loss.

TurboTax doesn't track your capital basis in a partnership. You'll need to track that yourself.

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