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Form 1065 Box 20, Code AD -Deemed Section 1250 Unrecaptured Gain – Are amounts reported on this line already included as part of the amount reported on Line 9C – Unrecaptured Section 1250 Gain ? Or should the Box 20, Code AD amounts be considered separately reported amounts ?
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Was this partnership interest sold this year? If so, then you need to incorporate the line 20AD into that sale in Screen 17 > Schedule D > Unrecaptured Section 1250 Gain > Sale or exchange of partnership interest.
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Interest wasn't sold but the partnership distributed units of a new partnership formed from existing assets of the predecessor so appears it's considered a deemed distribution with recapture based on assets included in that distribution. In any case, would not appear to be included elsewhere in any reported K-1 information. So would need to be separately reported.
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