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You can link the depreciable asset to the 1065 K-1 in the 1040 package. The 2106 input can also be linked to the 1065 K-1 for the rest of the actual expense. UPE is a partner-level item, not a partnership-level item.
You can link the depreciable asset to the 1065 K-1 in the 1040 package. The 2106 input can also be linked to the 1065 K-1 for the rest of the actual expense. UPE is a partner-level item, not a partnership-level item.
A new 1500 Truck? Dually 3500? Does it qualify? Have you read:
https://www.irs.gov/pub/irs-pdf/p463.pdf
The truck is a 2500 Diesel which is required to pull heavy landscaping & dump trailers filled with rock and other materials. The truck is in the partners name not the partnership name.
The partnership agreement states that each partner shall provide their own vehicle. The reason for this if fairness in the type of vehicle they choose.
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