Level 15
08-26-2021
02:50 PM
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For a partnership for assets that are sold that the 179 was taken, you do not fill out the 4797 on the partnership return, as it is filled out on the partner level (1040) If you fill out the asset work sheet on the 1065, and fill out the sale info ProSeries will do the rest for you. As a side note you have a $300 gain that is 1245 gain reported as ordinary income