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Level 2
August 20, 2020
Question

Section 743 (b) negative adjustments.

  • August 20, 2020
  • 1 reply
  • 3 views

Where do you input Section 743(b) negative adjustments from an LLC 1065 K-1.

Where do you enter AH other information Section 754 Depreciation not included in income.  I've not seen these entries before

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1 reply

sjrcpa
Level 15
August 20, 2020

Separately stated income and deductions. Passive or nonpassive as appropriate. Enter as a negative number if its supposed to be a deduction.

The more I know the more I don’t know.
Level 2
August 21, 2020

Thank you for your reply but where to enter.  It is a non passive deduction against the income.