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LSTAX
Level 5
December 7, 2019
Solved

Why are old depreciated assets included in 1065 K1 line 20AB?

  • December 7, 2019
  • 9 replies
  • 36 views

partner K-1s include their percentage of fully depreciated assets. This must be part of QBI 199A deduction and sounds like it flows to individual's 1040 form 4952 Investment Interest Expense Deduction but should I stop the depreciated assets from showing on K1 line 20AB?

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Best answer by itonewbie

Are those assets within 10 of when they were first placed in service?

9 replies

itonewbie
itonewbieAnswer
Level 15
December 7, 2019

Are those assets within 10 of when they were first placed in service?

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LSTAXAuthor
Level 5
December 7, 2019
one computer placed in service in 2011
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