Osvaldo
Level 1
09-02-2020
06:08 PM
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I have a trust which received a K-1 which had rental income and it mentioned on the K-1 that there is Section 179 that is attributed to the beneficiaries.
On trust we are preparing, I believe we can allocate the Section 179 between the trust and the beneficiaries based on the distributed income to the beneficiaries.
Where do we enter this Section 179 in the trust return?
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sjrcpa
Level 15
09-02-2020
06:34 PM
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What does "Section 179 that is attributed to the beneficiaries. " mean?
Estates and trusts are not eligible for Section 179 deduction. Guess that's why there is no input field for it.
The more I know the more I don’t know.
