I think I got it.
If, for example, there are two partners each of whom share 50% of all Profits, Loss, and Capital. On the very first day of the partnership's existence Partner A contributes $1000 into the partnership checking account and partner B contributes $10,000 into the partnership checking account. Then, by the end of the first year the partnership tax return (1065) reports a loss of $5000.
Will Partner A report capital of -$1,500 (i.e.$1,000 - $2,500) and have basis of zero?
Will Partner B report capital of $2,500 (i.e. $5,000 - $2,500) and have basis of $2,500?
How will Partner A's and B's capital and basis change if the partnership took a bank loan of $10,000 during the year.
PS I will pay you an additional $15 because of your additional time!