Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Step up Basis Depreciation
Step up Basis Depreciation
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
ElizabethR
Level 1
09-05-2024
05:37 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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?
Labels
1 Comment 1
dascpa
Level 11
09-06-2024
09:13 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
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.
