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FLmoe
Level 1
01-22-2024
12:38 PM
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I did a transfer from my S-Corp K-1 to my personal return. The K-1 income amount was actually the depreciation number on my 1120-S return. I had actual ordinary business income, but the transfer listed a loss which turned out to be the depreciation amount on the 1120-S return. I have never had anything quite like this before. I don't know what could generate a situation like this.
Both of these returns were completed on the Lacerte tax program.
