Pennsylvania Partner PA Outside Tax Basis in a Partnership Worksheet (REV-999)

Partner PA Outside Tax Basis in a Partnership Worksheet (REV-999)
Partner PA Outside Tax Basis in a Partnership Worksheet (REV-999)
REV-999 PT (08-12)

Partner’s Outside Tax Basis in a Partnership Worksheet
Partnership Name:

EIN:

Partner’s Name:

Tax Year:

SSN:
Partner’s
Outside Basis

1. Partner’s Outside Basis at Beginning of Year*

1

INCREASES TO PARTNER’S BASIS
2. Partner’s Contributions:
2a
Cash
2b
Property (adjusted value)
2c
Services (fair market value – if taxed)

2a
2b
2c

3. Increase in Partner’s Assumption of Partnership Liabilities

3

4. Partner’s Distributive Share of Income
4a
Interest income (resident only)
4b
Dividend income (resident only)
4c
Net income from the operation of a business, profession or farm
4d
Net income from rents, royalties, copyrights and patents
4e
Net gain from sale, exchange or disposition of property
4f
Other classes of income (excluding gross compensation)
4g
Non-taxable income
4h Other increases to basis (Submit detailed statement.)

4a
4b
4c
4d
4e
4f
4g
4h

5. Total Increases to Partner’s Basis (Add Lines 2a through 4h.)

5

DECREASES TO PARTNER’S BASIS
6. Decreases for Non-Taxable Distributions
6a
Non-taxable cash distributions
6b
Non-taxable property distributions
6c
Decrease in share of partnership liabilities
TOTAL NON-TAXABLE DISTRIBUTIONS (Add Lines 6a through Line 6c.)
7. Partner’s Basis after Distributions
Notes:
 Basis cannot be less than zero due to distributions.
 Distributions in excess of basis are taxed as gains for PA purposes.
7a
Line 1 + Line 5 + Line 6
7b
If Line 7a is $0 or greater, then Line 7 = Line 7a, and Line 7c = $0 (go to Line 8)
7c
If Line 7a is less than $0, then Line 7 = $0, and Line 7c = Line 7a
7d
Enter Line 7c on PA-40 Schedule D, Line 8
PARTNER’S SHARE OF DISTRIBUTIVE LOSSES

6a (
6b (
6c (

)
)
)
6 (

)

7a
7c
7

**

8. Net Loss from the Operation of a Business, Profession or Farm
8a
Net loss from the operation of a business, profession or farm from RK-1/NRK-1
8b
Partner’s utilized loss (amount of Line 8a loss used to offset PA-40 in-class income)
8c
Partner’s share of straight-line depreciation
If Line 8a = Line 8b, then Line 8 = Line 8a
If Line 8b = $0, then Line 8 = Line 8c
If neither of the above apply, then Line 8 = 8b + {[(8a - 8b)/8a] x 8c}

8a (
8b (
8c (

)
)
)
8 (

)

9 (

)

10 (

)

11. Total Share of Partner’s Distributed Losses (Add Lines 8, 9 and 10.)

11 (

)

12. Decrease for PA Business Credits

12 (

)

13. Total Other Decreases to Basis, Including Nondeductible Expenses (Submit detailed statement.)

13 (

)

14. Partner’s Ending Outside Basis (Add Lines 7, 11, 12 and 13.) Cannot be less than zero

14

9. Net Loss from Rents, Royalties, Copyrights and Patents
9a
Net loss from rents, royalties, copyrights and patents from RK-1/NRK-1
9b
Partner’s utilized loss (amount of Line 9a loss used to offset PA-40 in-class income)
9c
Partner’s share of straight-line depreciation
If Line 9a = Line 9b, then Line 9 = Line 9a
If Line 9b = $0, then Line 9 = Line 9c
If neither of the above apply, then Line 9 = 9b + {[(9a - 9b)/9a] x 9c}
10. Net Loss from Sale, Exchange or Disposition of Property
10a Net loss from sale, exchange or disposition of property from RK-1/NRK-1
10b Partner’s utilized loss (amount of Line 10a loss used to offset PA-40 in-class income)
Line 10 = 10b

9a (
9b (
9c (

10a (
10b (

)
)
)

)
)

*Enter prior year ending basis or zero if it is the first year.
**PA law requires a partnership to depreciate property by a minimum amount it determines using the straight-line method even if the depreciation calculated under this method
does not provide any tax benefit. Tax benefit means that the partner reduces the PA tax liability or the tax liability to another state. Therefore, if a partner receives a
distributable share of a loss and does not receive a benefit from the loss, the partner must still reduce the basis by the share of straight-line depreciation. However, if the
partner only received a partial benefit from the loss, the partner must reduce the basis by (1) the loss utilized and (2) a portion of the partner’s share of straight-line
depreciation. This is calculated by the unutilized loss divided by the total loss, multiplied by the partner’s share of straight-line depreciation. The partner must reduce the
basis by the total loss if the partner receives full benefit of the loss.

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