K-1 basis after an 83(b) election I received a k-1 from my firm for 2015. I have not contributed anything other than time and effort. I did file an 83(b) election. The shares were granted fully vested in 2015, and so this is the first year. The partnership took a significant loss (we are a startup in pre-profitable stage). Would the amount claimed on the 83(b) election be my starting basis? It would seem to me that the amount I claimed on the 83(b) election is the amount of income I am declaring these shares to be worth and received as income, which is really my contribution to the firm. Any thoughts or pointers in the right direction would be much appreciated. |