OP UNIT DEBT CHANGE: CPA INPUT WORKSHEET
Educational organizer only. Your tax professional must calculate your result.

1. TRANSACTION AND DATES
Partner/taxpayer: ______________________________
Partnership and unit class: _____________________
Contribution or acquisition date: ______________
Debt-change event and effective date: ___________
Distribution, redemption or conversion date: ____

2. SOURCE RECORDS
[ ] Contribution agreement and closing statement
[ ] Prior-year outside-basis schedule
[ ] Historical acquisition, exchange and depreciation records
[ ] Current and prior Schedule K-1, including Item K1, Item L, Box 19 and statements
[ ] Beginning and ending debt schedules
[ ] Partnership agreement and liability-allocation method
[ ] Guarantees, indemnities, reimbursement rights and releases
[ ] Cash distributions, unit activity and current-year income/loss records
[ ] Tax-protection agreement, if any

3. PARTNER LIABILITY RECONCILIATION
                              BEGINNING      ENDING       CHANGE
Recourse                    $__________    $__________   $__________
Nonrecourse                 $__________    $__________   $__________
Qualified nonrecourse       $__________    $__________   $__________
Total allocated liabilities $__________    $__________   $__________

Who supplied the allocation and method? __________________________
What event caused the change? ____________________________________
Any guarantee or reimbursement-right change? _____________________

4. OUTSIDE-BASIS BRIDGE, TO BE COMPLETED OR CONFIRMED BY CPA
Opening adjusted outside basis                         $__________
Additions other than liability increases               $__________
Liability increases treated as money contribution      $__________
Reductions before distributions                        $__________
Cash distributions                                     $__________
Liability decreases treated as money distribution      $__________
Potential excess over basis, if any                     $__________
Ending adjusted outside basis                          $__________

5. QUESTIONS FOR THE TAX PROFESSIONAL
- Which liability-allocation rules and dates apply?
- Is Box 19 code D complete and consistent with the debt schedule?
- What other basis adjustments and distribution ordering apply?
- Could Section 751 or disguised-sale rules affect character or timing?
- Is tax-basis capital being incorrectly used as outside basis?
- What records should be retained and updated next year?

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