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I understand most of that. Where I need more understanding

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I understand most of that...
I understand most of that. Where I need more understanding is in the allocation of the each partner's share of the adjusted basis od each partnership oil and gas property....i.e. ref your third to the last sentence. How is this information reported with each K-1, supplemental data, excel spreadsheet, etc.
Thank you.
Jeff
Submitted: 2 years ago.Category: Tax
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6/10/2015
Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,245
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Hello, my name is***** & I'll be helping you today. My goal is to give you a complete & accurate answer that you can understand.
I'm not sure I understand your question. You can present the information any way you wish as long as it is an attachment to the K-1 for each partner, and is referenced to Item 20, code T.
Does that clarify it for you?
I presume that you understand that you started a new question; you need to go back to the original question in order to provide a rating so that I will receive credit for my work.
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Tax Professional: Stephen G., Sr Income Tax Expert replied 2 years ago
Do you have any additional questions or may I clarify anything for you?
Please let me know.
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