new partnership

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  • wayne
    Junior Member
    • Jan 2007
    • 6

    #1

    new partnership

    two individuals started a partnership in january of 2006. a building purchased prior to the establshment of the partnership was contributed to the partnership. on what line of section n of the k1 should this be shown.
  • dsi
    Senior Member
    • Dec 2005
    • 705

    #2
    I would include it on the line that says "Capital Contributed During the Year".
    Dave, EA

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    • outwest
      Senior Member
      • Dec 2005
      • 455

      #3
      And don't forget to ...

      check for any built in gain potential.

      Doug

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