Partnership and LLC Tax Return Guide

I'm a partner in a partnership or member of a multi-member LLC and need to understand my tax obligations.

Partnership/LLC details:
- Entity type: [Partnership/Multi-member LLC]
- Your ownership percentage: [%]
- Number of partners/members: [Number]
- Partnership income/loss this year: [Amount]
- Your share of income/loss: [Amount]
- Distributions received: [Amount]
- Capital contributions made: [Amount]
- Guaranteed payments: [Amount if applicable]
- Partnership has debt: [Yes/No - Your share]
- Your basis in partnership: [Amount if known]

Please explain:
1. Partnership taxation basics (pass-through)
2. Understanding Schedule K-1
3. Partner vs. partnership-level items
4. Calculating and tracking partner basis
5. At-risk and passive activity limitations
6. Self-employment tax on partnership income
7. Guaranteed payments vs. distributions
8. Special allocations
9. How to report K-1 items on personal return
10. Estimated tax obligations for partners