The tax basis reporting of capital accounts has been delayed to 2020. In Notice 2019-66, the IRS has announced that partnerships won’t be required to report partners’ shares of partnership capital on the tax basis method for tax years starting in calendar-year 2019, but will be required to use that method starting in 2020 for partnership tax years starting on or after Jan.1, 2020. We can assist with your reporting. Call today or visit our website for more information! www.mjscpa.com/
