New client....says he can't provide any info as to his outside basis. He was basically the only operating partner, and the other partners did not participate in the business, which ended in 2018 with the sale of the partnership's building. The other partners seem to have positive capital accounts .
I am stuck with the partner who did that day to day operations and see that he has a pretty hefty negative capital account. I don't think that the income will be capital gains income and should be ordinary income. I think we are just forced to use the negative capital account as ordinary income. Thoughts?