Form 1065 K-1 Basis

[Dakota777]

Form 1065 K-1 Partner's original contribution in 2018 was $50,000.

The only income/expenses/losses/adjustments have been Line 13 W Non-deductible Professional Fees:
2018: $8
2019: $2
2020: $3

So I currently have cost basis as $49,987. But then it hit me...the "cost basis" is still $50,000 because the $13 were non-deductible expenses, so her cost basis remains the same. The "capital account" however is $49,987 which has no bearing on the tax return.

Is my current thinking correct??

[BOB W]

The $13 for non-deductible expense would be treated just like a personal distribution was made. The tax return basis would be $50,000 minus $13 = $49,987..
The most curious part of this is why there is such small amount of NONDEDUCTIBLE PROFESSIONAL FEES?

[Lion]

In three tax years the partnership had $0 income, $0 expenses, $0 losses, $0 profit, $0 adjustments, and $13 non-deductible professional fees?