1,690
612
288
46Spaces
A Space holds the documents, the workpapers, the review history and the outstanding asks together — and tells you honestly how far from ready it is.
1065/K-1
Pernee for
partnership returns
Partnership work is the most history-dependent in the practice. Pernee keeps capital accounts, basis and allocations tied to the reasoning behind them, year after year.
A partnership return carries every year that came before it. The §754 election, the special allocation in the agreement, the tie-out a reviewer questioned three years running.
Capital accounts, basis and K-1s
that tie out
01
Roll forward capital and basis
Pernee carries each partner’s capital account and basis from the prior year and flags anything that does not roll forward cleanly.
- §704(b) and tax-basis capital tied out per partner
- Ownership changes caught against the agreement
- Conflicts kept, never overwritten
Why did we make the Section 754 election for Ridgeline in 2024, and who signed off on how the step-up was allocated?
Firm memoryRecalled 5 items · 9s
The firm made the election because Harbor Point LP bought a 12% Class A interest from Aldine Partners for $4.1M more than its share of inside basis. Without it, Harbor Point would be taxed on gain it had already paid for.14
A. Morgan signed the position memo on February 18, 2025. Her review asked for the Section 743(b) step-up to be allocated to the portfolio investments under the residual method, not to goodwill at the fund level.12
Mark Ellison questioned the election in March because it cannot be revoked. The team kept it after showing that two more transfers were expected in 2025.3
Both transfers closed. The 2025 return needs a new Section 743(b) adjustment for each, and the 2024 election already covers them.5
Not found in your sources. No record of who approved the Harbor Point side letter terms.
Memory · Ridgeline
- 1Position memo · Section 754 election 2024Position · signed by A. Morgan · Feb 18, 2025
- 2Review notes 2024 · A. MorganReview · 5 notes
- 3Email · Mark Ellison, CFOCorrespondence · Mar 12, 2025
- 42024 Form 1065 · Statement 3Vault · as filed
- 5Partner transfer log 2025Vault · Source documents
02
Get K-1s in, and out, on time
Pernee tracks lower-tier K-1s across the fund structure and drafts the chase before a late one holds up the whole return.
- Lower-tier K-1s matched as they arrive
- Chases drafted with what it is blocking
- Partner K-1s checked against last year’s allocations
An animation of connecting Microsoft 365, then 12 files appearing in an all-files list, each matched to a client and filed into that client's binder folders.
03
Keep elections and positions in force
Every election and position is held with its source and its signer, so nothing lapses because the person who made it moved on.
- §754, §163(j) and other elections tracked
- State apportionment compared year over year
- A signer brief on every position that changed
Explore the platform
Agents
Purpose-built agents pull the firm's own precedent into a draft memo, response or checklist. Every claim carries its source, and every draft waits for a person to approve.
Vault
One client's files in one place, in the firm's own folders. The bytes stay in the system that owns them — what Pernee keeps is where each file is, and the text of what it has read.
Memory
Pernee keeps why a position was taken, who signed it and what it was questioned on — and brings it back the season it matters.
Security
Built for the data
your clients trust you with
Never trained on your data
Neither Pernee nor its model providers train on your returns, workpapers or comments.
Permissions that mirror your firm
People see in Pernee only what they can already open in your systems.
Drafts only
Pernee never files anything and never writes back into your tax software.
Encrypted end to end
TLS 1.2+ in transit and AES-256 at rest, with a full audit log.
Tailored for Every Return
Last year's review, positions and workpapers, brought back on the form you are preparing now.
