Hello, my name is***** & I'll be helping you today. My goal is to give you a complete & accurate answer that you can understand.
Depending upon the number of properties, you would either enter the basis information in Item 20 on the K-1, or Indicate in Item 20 that you have attached a schedule with the information.
From the 1065 instructions:
Attached statements. The partnership will
enter an asterisk (*) after the code, if any, in
the column to the left of the dollar amount
entry space for each item for which it has
attached a statement providing additional
For those informational items
that cannot be reported as a single dollar
amount, the partnership will enter an asterisk
in the left column and enter “STMT” in the
dollar amount entry space to indicate the
information is provided on an attached
For Item 20, for Depletion information/ Basis of each Oil & Gas property, you would use Code "T":
From the Instructions:
"Code T. Depletion information—oil and gas. This is your share of gross income
from the property, share of production for the tax
year, etc., needed to figure your depletion deduction
for oil and gas wells.
The partnership should also allocate to you a share of the adjusted basis of each partnership oil or gas property.
See Pub. 535 for details on how to figure your depletion deduction."
Does that answer your question or are you asking for something different?