I have a circuit in my basement which is out. I have tracked the problem down to one receptacle which has no power. Checked the neutral and ground are OK, hot has no power. All of the breakers appear OK. I am unable to track back to initial source for this circuit outside of the panel (I.E. another receptacle). Any advice or ideas?

Why are you unable to track back? That is exactly where you need to look.

Check other outlets in basement. You will have to open them to see if a wire is broken or disconnected.

Start with outlet closest to outlet not working.

Chuck

A similar problem in my case turned out to be a tripped GFCI outlet that was hidden above a suspended ceiling. It took a lot of tracing to finally locate that problem but I had another clue- my outside outlets weren't working either. Are you certain that you have no other dead outlets?

It may be a switched outlet.
Could be a bad connection at the one of the closest outlets/switch boxes, That outlet/switch box may be live, but not hot going out.
Since you have a good neutral, it is not a GFI Problem as GFI's remove both the Hot And Neutral when tripped.
Is this Romex, or wiring in Conduits?