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Level 2
April 25, 2021
Question

On a 1065- In 2019 the preparer claimed $354,818 of depreciation that was recorded on the book but not on Schedule K. Where do I put this figure for the 2020 return?

  • April 25, 2021
  • 2 replies
  • 15 views
I would assume it carries forward since the loss wasn't on the 2019 K1?
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2 replies

abctax55
Level 15
April 25, 2021

Depreciation is part of the income/loss shown on line 1 or line 2 of Sch K (and also part of line 9b on Sch L...)

It is not a separately stated item.

HumanKind... Be Both
sjrcpa
Level 15
April 25, 2021

Nowhere.

But since book and tax depreciation are different, you'll have a book tax depreciation difference this year, too.

You need to have book and tax depreciation schedules.

The more I know the more I don’t know.
stacey2Author
Level 2
April 27, 2021

That's what I would assume as well but I don't see anywhere to enter it in ProConnect?