Randy Haynes
Level 4

I have a new client who has significant investments in a MLP. His capital account now shows $0. His previous preparer provided an outside basis number of just over $60,000 on 12/31/18. I am attempting to calculate his current outside basis using his 2019 K-1. I understand using his K-1 income/loss, distributions, and his share of liabilities in my calculations, but I am unsure what other items on the K-1 impact his outside basis. What items should I look for in boxes 10-20 to include in my calculations?

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