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- Section 754 step down adjustment
Section 754 step down adjustment
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kdance
Level 2
04-07-2022
07:44 AM
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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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dascpa
Level 11
04-07-2022
08:49 AM
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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.
kdance
Level 2
04-07-2022
09:54 AM
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Thank you.
How do you do that approach with different partners?
