sjrcpa
		
		
		
		
		
		
		
		
	
			
		
		
			
					
		
	
	
			Level 15
		
	
				
		
	
		
			
    
	
		
		
		02-27-2024
	
		
		02:20 PM
	
	
	
	
	
	
	
	
	
	
	
	
	
	
		
	
				
		
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The ending capital account of the selling partner gets moved to the capital account of the buying partner.
Selling partner's outside basis is not reflected on the 1065.
Buying partner's $350K purchase price is not reflected on the 1065 unless a 754 election is made. It does become his beginning outside basis.
The more I know the more I don’t know.