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- Unable to Take Real Estate Losses from Imported 1065 K-1 on Building Depreciation (Form 1040)
Unable to Take Real Estate Losses from Imported 1065 K-1 on Building Depreciation (Form 1040)
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troy
Level 3
06-17-2024
10:18 AM
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Taxpayer is amending form 1040 based on a revised K-1 from a 1065 for additional real estate depreciation as a result of a cost segregation study.
The 1040 is not allowing the loss. I understand it could be a basis or capital account issue, but cannot confirm.
What are some of the buttons / checkboxes / considerations that would prevent the loss from flowing through?
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2 Comments 2
qbteachmt
Level 15
06-18-2024
12:51 PM
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"1040 is not allowing the loss..would prevent the loss from flowing through"
Clarifying, then: That specific type of loss isn't being used. It's not an issue of flowing. It's an issue of how the tax regulations treat it. Do you see it should be treated otherwise in your review of that return?
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