jskouberdis
Level 5

I have a question for the community.  Pro Series does not include in UBIA assets any asset that is a 754 Basis Adjustment on any type of rental property whether commercial or residential.  I have looked up the rules and some articles point out that any rental type of properties do not include 754 Basis Adj. in UBIA assets.  Then I have read other articles that say that you can include 754 assets in the calculation of UBIA assets.  The articles that say you can do not specify what type of businesses can include 754 assets.  What is the communities take on this subject.  Whenever I do a google search and include rental property it says you cannot include 754 assets.  I hope all of you Tax Pros can come up with a solution.

Thanks,

 

John Skouberdis

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