Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProConnect Tax
- :
- ProConnect Tax Discussions
- :
- I have a bulk sale of fixed assets. I entered the sales price of the asset under the main asset, but it isn't showing up in the return. How do I get it to show up?
I have a bulk sale of fixed assets. I entered the sales price of the asset under the main asset, but it isn't showing up in the return. How do I get it to show up?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
sarah-lancecpa-
Level 1
02-16-2021
06:25 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
This is for an 1120S. Most of these assets have 179 so the sale shows up on the K-1, box 17K.
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
1 Comment 1
sjrcpa
Level 15
02-16-2021
09:00 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
That is the correct presentation for sales of assets where 179 was taken. Remember the original 179 deduction was separately stated on the K-1.
The more I know, the more I don't know.
