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- Re: Step up Basis Depreciation
Step up Basis Depreciation
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ElizabethR
Level 1
09-05-2024
05:37 PM
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I'm trying to allocate step up basis depreciation to one partner on Form 1065 flowing to K1 - line 13 code W other deductions. The problem is I have to first put it on schedule k and it's not allowing me to do it. Anyone else have a similar situation? And how did you fix it?
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dascpa
Level 11
09-06-2024
09:13 AM
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On Schedule K-1 Worksheet under Special Allocations list 100% under #1 (By Ratio) for that partner.
Then on Schedule K (Line 13N) also list "1" in the Special Allocation box. That will link the 754 depreciation together.
