PTO uses the following info to compute the basis, and the info comes from the K-1 input field. If you provides the info correctly, it will compute basis. You can verify the software computation with what you would do in pencil and paper.

• Adjusted basis at beginning of year
• Additional amounts invested in current year
• Current year distributions of money
• Current year distribution of property
• Change in partner's share of liabilities
• Other tax-exempt income
• Current year income from partnership
• Adjusted basis used for basis limitation
• Loss allowed by basis limitation
• Adjusted basis at end of year

You put a summary of your question in the title, for example, "How do I compute form 1041 K1 basis?" in the subject and the details in the message body, just as in a email message, not the entire question in the title. When someone answered your question correctly, please mark it as the answer. Thanks.

Yes, however I don't see any input fields for beginning adjusted basis for form 1041.  I've seen it for 1040, 1065 and 1120s, just not for 1041.  I can't find it.  Do you know what input category it's under? Navigation please.

Thank you.