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Tax year 2025 individual e-filing is now open. For resources to help start your tax season check out Hot Topics here.
Tax year 2025 individual e-filing is now open. For resources to help start your tax season check out Hot Topics here.
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- Prior deprecation on S-Corp being sold not coded as bonus
Prior deprecation on S-Corp being sold not coded as bonus
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sfmeliss
Level 4
3 weeks ago
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UPDATED - figured it out, had to do with bulk sale
Working on a sale of an S-Corp in 2025 which has taken all prior deprecation as bonus deprecation. In the input screen 16 it has rolled forward from 2024 as "prior special deprecation" not come over as "prior bonus deprecation". The issue is that now when the company is sold it's showing up on K-1 as disposition of assets with prior section 179, as footnote? There was no sec 179 taken. Also, moving it to bonus box doesn't fix it? Has anyone experienced this?
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