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Level 1
October 15, 2021
Question

We are waiting on K-1 to complete a 1040. For the K-1, we were provided: rental income, LT capital loss, deprec recapture. Where do I enter the depre recap on the K-1?

  • October 15, 2021
  • 2 replies
  • 14 views
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2 replies

Intuit Community Champion
October 15, 2021

What flavor K1, normally deprecation recapture is ordinary income, and will be reported on 1040 schedule 1. When you fill out the K1 on the 1040, ProSeries will carry most lines to the correct place. If they don't carry to correct place they will warn you with a single *, then you have to manually put line where it belongs

Accountant-Man
Level 13
October 15, 2021

1065 K-1, Unrecaptured Section 1250 gain (included in line above) on line 9c

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