Taxstra • Planning worksheet • 2026-09-05

Section 754 Elections: Modeling a Partnership Interest Transfer

Use this worksheet alongside the guide. The figures and schedules are educational illustrations, not individualized tax advice or a recommendation for your circumstances.

Work through your records

Read the explanation in the guide before filling in the schedule. Keep the illustrated values separate from your actual records. For each row, identify the supporting document, applicable period, unresolved assumption, and person responsible. Do not treat example percentages or classifications as established facts for your situation.

Schedule	What it tracks	Your records / questions
Interest purchase	Price, liabilities and transaction evidence
Outside basis	The partner's basis in the interest
Inside asset basis	Partnership basis in individual assets
Partner-specific adjustment	Applicable adjustment by asset and partner
Future deductions/disposition	How adjustments affect later reporting

Resolve the decision

What decision or discrepancy does your completed schedule reveal?Which assumptions need professional review, and what documents support them?Who will take the next action, and by what date?

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Explore the relevant Taxstra service. Use the consultation to establish fit and scope; individualized analysis and implementation require an engagement.