Partnership and multi-member LLC returns require careful treatment of allocations, capital accounts, partner basis, debt, distributions, and Schedule K-1 reporting.
Common Issues
- tax-basis capital accounts;
- outside basis and debt allocations;
- special allocations;
- guaranteed payments;
- property contributions and distributions;
- partner changes;
- Section 754 elections;
- Colorado reporting; and
- nonresident partners.
Discuss Your Tax Preparation and Planning Needs
Work with a Colorado attorney and CPA for coordinated business, individual, rental, and planning services.