I have a bulk sale of fixed assets. I entered the sales price of the asset under the main asset, but it isn't showing up in the return. How do I get it to show up?

sarah-lancecpa-c · ‎02-16-2021

This is for an 1120S. Most of these assets have 179 so the sale shows up on the K-1, box 17K.

sjrcpa · ‎02-16-2021

That is the correct presentation for sales of assets where 179 was taken. Remember the original 179 deduction was separately stated on the K-1.

The more I know the more I don’t know.