IATSD
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07-20-2022
03:50 PM
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Just wanted to make sure I am showing this correctly on my client's return. We're filing a 1065 for a partnership that purchased a building. The building is worth 855,000 and the partnership was required to put 201,000 out of pocket down on the purchase. Since the partnership ONLY holds the building, The 201,000 would be a start-up cost and amortized over 15 years, correct?
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