PhoebeRoberts
Level 11
Level 11

The partnership can't depreciate things it doesn't own. If a partner contributed the vehicle to the partnership, that would give the partner basis. If the partnership distributed the vehicle to the partner in dissolution, the partner's basis would (probably, likely, 732 is the worst code section ever except maybe for some of the other really bad ones) be reduced by net book value of the vehicle in the partnership's hands.

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