Can depreciation be imported to a different return type?

Forum|Forum|4 years ago
January 29, 2022
2 replies
6 views

Is there a way to transfer fixed assets from a 1065 return into a 1040 return? One partner (spouse in LLC) died so I no longer have to file a partnership return. However, he needs to report the rental properties on his 1040 Schedule E now. Is there a way to transfer all the assets to his Schedule E's so I don't have to re-enter all the assets?

ProSeries Professional

This topic has been closed for replies.

Best answer by rbynaker

You can import from the 1065 into FAM and then export from FAM into a 1040. The catch is, "once you start down the dark path, forever will it dominate your destiny." You will have to maintain the assets in FAM going forward and do the export/import process every year.