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- 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?
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sarah-lancecpa-
Level 1
02-16-2021
06:25 PM
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This is for an 1120S. Most of these assets have 179 so the sale shows up on the K-1, box 17K.
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sjrcpa
Level 15
02-16-2021
09:00 PM
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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.
