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1250 gain is capital gain, too, just that it is the "recapture of depreciation" piece of the gain that could be taxed at up to 25%, rather than up to 20% for LT...
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It should. Did you also enter the original SH's interest down to 50% on that same date on the Ownership Pct W/S. It works for me. 100% from prior year, changed ...
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I completed a Sch E on the 1041, including the QBID sheet at the bottom. ps I use Pro Series, not Lacerte.
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Did you check the box Yes on the Accumulated Depreciation W/S to Enter on Balance Sheet? The total assets must be manually entered on the B/S.
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Form 8995 flows to line 20 page 1. If income is allocated to beneficiaries, some goes to them.
