skyworks
Level 7
09-12-2023
11:04 AM
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Hi,
Can any one please advise?
Husband and wife transferred rental properties to their new LLC in Oct 2022.
I am entering depreciation, thought should apply 9 months the depreciation to personal return, then 3 months on partnership.
First on personal return, how to let system know to stop as 10/1/2022 on personal return? Or you have to manually overwrite?
Second on Partnership return, the depreciation starts at 10/1/2022 , add accumulated depreciation to prior year, but the method is default at certain years, for example the building is 27.5, if it has been depreciated for 10 years, the remaining life is 17.5, how the system would know to stop?
Please help! Thanks!
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