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Phil Kinzel
Level 1
April 15, 2021
Question

Bulk Sale

  • April 15, 2021
  • 1 reply
  • 3 views

How do I enter on form1065 the bulk sale by a partnership of a building and furniture and equipment all of which is almost fully depreciated.  The sale is an installment sale. I entered 1 for bulk sale on screen 14.  I get several diagnostics that the depreciation method is different from the main asset and the recapture will not be correctly reported on form 4797.

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1 reply

sjrcpa
sjrcpa
Level 15
April 15, 2021

Make it 2 bulk sales. One for real property and improvements and one for personal property.

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