OP-UNIT K-1 CAPITAL ACCOUNT VS OUTSIDE BASIS: ANNUAL RECONCILIATION

Investor / taxpayer: ____________________
Tax year: ____________________
Operating partnership legal name: ____________________
Last four EIN digits: ____________________
Preparer: ____________________

OPENING RECORD
- Prior-year ending outside basis approved by preparer: ____________________
- Prior-year schedule location: ____________________
- Beginning Item L capital account: ____________________
- Beginning recourse liabilities: ____________________
- Beginning nonrecourse liabilities: ____________________
- Beginning qualified nonrecourse financing: ____________________

CURRENT-YEAR INCREASES
- Contributions of money: ____________________  Source: ____________________
- Adjusted basis of contributed property: ____________________  Source: ____________________
- Taxable income and gain: ____________________  Source: ____________________
- Tax-exempt income: ____________________  Source: ____________________
- Increase in applicable liability share: ____________________  Source: ____________________
- Other partner-level adjustment: ____________________  Source: ____________________

CURRENT-YEAR DECREASES
- Cash distributions: ____________________  Source: ____________________
- Adjusted basis of property distributed: ____________________  Source: ____________________
- Deductible loss items: ____________________  Source: ____________________
- Nondeductible noncapital expenses: ____________________  Source: ____________________
- Decrease in applicable liability share: ____________________  Source: ____________________
- Other partner-level adjustment: ____________________  Source: ____________________

RECONCILIATION
- Ending Item L capital account: ____________________
- Preliminary ending outside basis before unresolved items: ____________________
- Explained difference: ____________________
- Unresolved difference: ____________________
- Missing statement or assumption: ____________________
- Transaction requiring point-in-time basis: ____________________
- Preparer approval / revision date: ____________________

This educational organizer is not a tax return, a complete basis calculation or an instruction to claim a loss, treat a distribution, recognize gain or report an OP-unit transaction. Use the instructions for the actual tax year and the investor's complete facts.