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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7119
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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I understand most of that. Where I need more understanding

Customer Question

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.
Submitted: 2 years ago.
Category: Tax
Expert:  Stephen G. replied 2 years ago.
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.
Expert:  Stephen G. 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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