2019 – 12/11 The tax basis reporting of capital accounts has been delayed to 2020. In Notice 2019-66, the IRS has announced that partnerships won’t be required to report partners’ shares of partnership capital on the tax basis method for tax years starting in calendar-year 2019, but will be required to use that method starting in 2020 for partnership tax years starting on or after Jan.1, 2020. We can assist with your reporting.
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