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Working on a 1040. Income > Passthrough K-1's > Partnership Info (1065 K-1) does not have Line 12 to input Section 179 depreciation. It skips right to Line 13.
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This must me one of the new simplifications done by PCT. It was there last year. Maybe @Kathi_at_Intuit could get someone to look into this.
Answers are easy. Questions are hard!
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Hi, go to the Passthrough K-1 screen ---> Lines 12-19 tab at the top ---> Line 12 is the very first entry spot.
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I should have been more clear. The issue is in 1040 returns, not 1065s.
1040 returns > Income > Passthrough K-1's > Partnership Info (1065 K-1) does not have Line 12 to input Section 179 depreciation. It skips right to Line 13.
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In a 1040 return, depreciated items are recorded on the Depreciation screen and then the activity is set to the Passthrough K-1. So you would add the asset on the depreciation screen, for Form select "Schedule E - Partnership, Scorporation or Estate/Trust, whichever you need. Then in the activity box choose the K-1 that you need it to link to. Then the section 179 expense is entered in current section 179 expense.
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2025 k-1 input for the 1040 should look like it did in 2024
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George is also right you can do it either way. 🙂
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It's on the State & Local tab. Click State & Local at the top and then you will find it, to enter it on the Passthrough K-1 screen in 2025.
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LOL there it is! Thanks for finding. @Kathi_at_Intuit can we get this moved back to where it should go?
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Hi @George4Tacks Thanks for the tag. Sorry did not get to this sooner! I see it gotten taken care of.
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Hi @millerd Thanks for the feedback! We will share this with Development. We cannot promise it will be moved, but we are able to make them aware.
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Hi Millerd,
I am experiencing exact same issue!
Ln12 on F1065 K-1 is such a commonly used line. No solution yet.
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Thank you for bringing this to our attention. We have shared with our development team. We do not have an ETA, but we have escalated to have this item moved back to the "Lines 11-20" tab in the 2025 program for Individual returns.