Re: Anyone having a problem with partners capital on form 1065 Schedule L when you have gains on assets that had taken 179 credit? 179 credit?

gbs · ‎01-28-2022

PATAX · ‎01-28-2022

You may want to wait a little bit to see if there is an update... I think it is a little too early for the 1065 module and I don't think it's completely ready yet... I had a partnership client drop off their data yesterday and I don't plan on looking at it until next week... just my opinion

taxiowa · ‎01-28-2022

How and where are you entering the sale of assets. Program does not automatically flow gain on sale of section 179 assets. You have to manually present sale to partners. And manually adjust Section L.

Anyone having a problem with partners capital on form 1065 Schedule L when you have gains on assets that had taken 179 credit? 179 credit?

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