dlaurie
Level 1
02-22-2021
05:23 AM
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I am working on the sale of property for a partnership. There is no depreciation left on the property and I have completed entering the sale for the property on the Federal 1065 and everything looks good. But when I get to the PA state partnership tax return the sale is coming through as non-taxable on line 12 of the PA-65. I thought this would flow through to the state return as taxable and distribute to the partners RK-1's? What am I missing that I need to do for the sale to properly distribute to the partners and be taxable?
Thank you for any help you can provide.
Dustin
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PATAX
Level 15
02-22-2021
07:39 AM
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Hi Dustin, you may want to take a look at line 10, income (loss) per books, on page 2 of PA65 and see what figure is there. Just my opinion.