K-1 Basis Tracker

Why Your Broker's Cost Basis Is Wrong

When you own MLP or PTP units, your broker reports the original purchase price as your cost basis on the 1099-B. But the IRS says your real basis changes every year based on your K-1 data — distributions reduce it, allocated income increases it, and liability changes shift it further. After a few years, the gap between your broker's number and your IRS-adjusted basis can be thousands of dollars.

This tracker implements the IRS Partner's Basis Worksheet to calculate your real adjusted basis from your K-1 data. Enter 4 numbers from your K-1 each year, and the calculator does the rest — including liability allocation, loss limitations under §704(d), excess distribution detection under §731, and suspended passive loss tracking under §469(k).

What You'll Discover

• Your real IRS-adjusted basis vs what your broker reports
• Whether distributions have exceeded your basis (triggering capital gains)
• Your basis health — how much of your original cost remains
• Suspended losses that carry forward to future years
• The phantom gain you'd face if you sold today

Supported MLPs

Pre-configured for popular MLPs including Energy Transfer (ET), MPLX, Enterprise Products (EPD), Plains All American (PAA), and Western Midstream (WES). Also supports any custom PTP or partnership with manual entry.

Built by Lucas Andersen, former institutional energy trader. Your data is stored locally in your browser and never sent to any server.