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Partnerships and personal expense
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meffordtax
Level 1
03-23-2024
05:53 PM
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I’ve got a client that gets a K-1 from a farming partnership. He bought additional farm equipment personally that he uses on the farm and wants to put that on his personal return. Do I just put this on schedule F or does it have to go through the partnership?
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The_AntiTax_Man
Level 8
03-25-2024
03:49 PM
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@meffordtax he could use Schedule F if the farming partnership pays him machine hire for use of the machinery that he bought for use on the farm.
