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If the partnership's assets consist mostly of land, there may not be much in the way of 751 gain.Do you have a copy of the partnership or operating agreement? E...
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I had a similar question a couple of years ago, and found Lacerte specifically follows the Form 541 instructions, which said (in 2024):If any of the following a...
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You should be able to allocate the overall gain using screen 29 Special Allocations, including the Sec 1231 gain and the unrecaptured Sec 1250 gain items. I don...
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Assuming all 4 properties are passive activities, then yes that sounds correct - passive losses from any passive activity are available to offset passive income...
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I have the same question. i don't see the new distribution codes on partnership K-1s processed even this week.
