How to specially allocate partnership rental income

Forum|Forum|6 years ago
December 7, 2019
1 reply
8 views

can rental income be specially allocated to partners? where to enter please?

Lacerte Tax

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Best answer by Kathi_at_Intuit

In Lacerte if you were to type in the search box 'special allocation' in the upper right and click on Search, it would bring up this knowledge base article for you:

Entering Special Allocations in the Partnership Module

https://accountants-community.intuit.com/articles/1607536&src=lsccom

Kathi_at_Intuit

Answer

Moderator

In Lacerte if you were to type in the search box 'special allocation' in the upper right and click on Search, it would bring up this knowledge base article for you:

Entering Special Allocations in the Partnership Module

https://accountants-community.intuit.com/articles/1607536&src=lsccom

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C

cyngingerAuthor

Level 3

THANKS for the article reference. i apologize, my question wasn't clear. i would like to specially allocate EACH rental location shown on F. 8825, and have that reported on the K-1 supplementary information, by partner. each partner has different depreciation from their own (contributed) income tax basis. this is not a 754 nor 743(b) transaction.

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