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Partnership Basis - need help in ATX please


Laurie P

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Hi all,

I have been struggled with this basis in ATX for an hour now and I am at my wits end. I need help please.

Here is the background:

Basis @ 12-31-05 $5,045 (all of this represents share of partnership libailities - Orig liability balance was $7,303)

For 2006:

Share of partnership liability is $14,073 (net increase of $6,770 from 2005 to 2006)

Here is what I have calculated (hopefully correct)

Beg Basis 5,045

CY change in liab 6,770

Loss/Non deduc (11,377)

Basis 12-31-06 438

Now - my problem is I can NOT get ATX to agree to this.

On the basis worksheet:

Beg basis 5,045 - looks correct

Increase of share of liabiliities 14,073 (it looks like it is pulling the $14,073 from Question M on the detail tab WHICH

I am pretty sure should be $14,073 that shows up on the K-1)

Non-deductible Expense 1,150 - looks correct

Loss 10,227 - looks correct

Ending Basis 7,741 - incorrect because the liabiity is off by 7,303 (liability as of 12-31-05)

Can someone please tell me where to go in ATX to adjust the liability by 7,303? I know it is probably simple but I just can not find it.

One other question:

I have also a suspended Section 179 loss from 2005 to roll to 2006 which can not be used and needs to flow to 2007 when I am hoping we can use. Where do I enter this carryforward? I tried entering in the "Carryover from PY" but this impacts my basis in CY which i believe is not what I need to do here.

Any help is very much appreciated.

Thanks,

Laurie

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