Question
Have several partnership returns that the UBIA of Qualified property is not including the building, only the most recent years assets? Not calculating correctly
Help! I have several partnership returns that the UBIA calculation that is then on each partners K-1 is not calculated correctly. Building purchased in 2010 as a 39 year asset, is not calculating, yet it is bringing the last asset , a 7 year asset in 19 is correctly and the only asset being calculated. All other assets were 5-7 year assets purchased in 2012 and rightfully have dropped off the calculation. Not sure why the buildings have not been calculated into the formula.????
