Question
worksheet for adjusting the basis of a partner's interest in the partnership
The worksheet is subtracting guaranteed payments for health insurance on line 15p. That amount is already included in the calculation of ordinary business loss on line 15a, so it is being subtracted twice. My understanding is that guaranteed payments are not deducted from basis, other than as a part of the net income/loss calculation. This worksheet is not filed with the return, but there does not seem to be a way to correct it and I will have to provide a manual worksheet to the partners. Am I missing something.
