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K
kdance
Level 2
April 7, 2022
Question

Section 754 step down adjustment

  • April 7, 2022
  • 1 reply
  • 8 views

Has anyone encountered a negative "step-down" adjustment. Proseries does not allow the entering of a negative amount to the "federal fixed asset worksheet". Any advice will be appreciated. Thank you!

 

 

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1 reply

dascpa
dascpa
Level 11
April 7, 2022

Any time I've had a step-down I've created a new asset for the new basis.  My workpapers have the calculation if ever needed.

K
kdanceAuthor
Level 2
April 7, 2022

Thank you.

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