I really need to know if and or how debt plays into basis.

Partner's beginning basis is $31,000, which includes his share of debt. Calculate the partner's basis using the k-1 below.

Schedule K-1 (Form 1065) 2018 Department of the Treasury Internal Revenue Service For calendar year 2018, or tax year beginning / / 2018 ending / / Partners Share of Income, Deductions, Credits, etc. a See back of form and separate instructions. Final K-1 Amended K-1 Part I Information About the Partnership A Partnerships employer identification number B Partnerships name, address, city, state, and ZIP code C IRS Center where partnership filed return D Check if this is a publicly traded partnership (PTP) Part II Information About the Partner E Partners identifying number F Partners name, address, city, state, and ZIP code G General partner or LLC member-manager Limited partner or other LLC member H Domestic partner Foreign partner I1 What type of entity is this partner? I2 If this partner is a retirement plan (IRA/SEP/Keogh/etc.), check here J Partners share of profit, loss, and capital (see instructions): Beginning Ending Profit % % Loss % % Capital % % K Partners share of liabilities: Beginning Ending Nonrecourse . . $ $ Qualified nonrecourse financing . . . $ $ Recourse . . . $ $ L Partners capital account analysis: Beginning capital account . . . . $ Capital contributed during the year . $ Current year increase (decrease) . . $ Withdrawals & distributions . . . $ ( ) Ending capital account . . . . . $ Tax basis GAAP Section 704(b) book Other (explain) M Did the partner contribute property with a built-in gain or loss? Yes No If Yes, attach statement (see instructions) Partners Share of Current Year Income, Deductions, Credits, and Other Items Part III 1 Ordinary business income (loss) 2 Net rental real estate income (loss) 3 Other net rental income (loss) 4 Guaranteed payments 5 Interest income 6a Ordinary dividends 6b Qualified dividends 6c Dividend equivalents 7 Royalties 8 Net short-term capital gain (loss) 9a Net long-term capital gain (loss) 9b Collectibles (28%) gain (loss) 9c Unrecaptured section 1250 gain 10 Net section 1231 gain (loss) 11 Other income (loss) 12 Section 179 deduction 13 Other deductions 14 Self-employment earnings (loss) 15 Credits 16 Foreign transactions 17 Alternative minimum tax (AMT) items 18 Tax-exempt income and nondeductible expenses 19 Distributions 20 Other information *See attached statement for additional information. For IRS Use Only For Paperwork Reduction Act Notice, see Instructions for Form 1065. www.irs.gov/Form1065 Cat. No. 11394R Schedule K-1 (Form 1065) 2018