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ShelleyK29492
Level 1
03-05-2020
11:30 AM
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I have a partnership return with a depreciable asset disposition, although no sale occurred. The vehicle title was transferred from the business name into one partner's name (49.5% share of ownership). How do I enter this correctly? It is currently showing as a capital gain rather than ordinary business income. I have not adjusted the partners basis either.
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