Depreciation expense on Schedule K

Forum|Forum|6 years ago
May 28, 2020
1 reply
16 views

Is there a way to get depreciation expense to flow to Schedule K rather than pg. 1 of the Form 1120S

Lacerte Tax

This topic has been closed for replies.

abctax55

Level 15

Nope... unless it's § 179.

May I ask why; what are you trying to accomplish?

HumanKind... Be Both

N

nwempeAuthor

Level 4

The depreciation was originally associated with a Rental property and showed on Form 8825. Now we still have the improvement but it's no longer a rental property just more of an investment property.

qbteachmt

Level 15

There are reasons not to hold real property in an S corp, and especially Rental property. Now you have "investment" property in the S corp, which isn't even generating Income? Something you are not using, but holding, would not keep depreciating, if held as an investment (example: art work). Depreciation is in consideration as a value for tax expense (not capital gain/loss) for wear and tear over time as loss of value to that property.

This is all very confusing. Could you give more details?

Don't yell at us; we're volunteers

Sign up

Login with SSO

Let's get you signed in

Login with SSO