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pmbrioadycpa
Level 2
March 21, 2021
Solved

Why isn't current year depreciation carrying to Schedule E when there are no changes to the rental real estate property from prior year (form 1041)?

  • March 21, 2021
  • 1 reply
  • 8 views
There are two 100% business residential rentals.  2nd one added property for 2020 .  Current year depr expense shows on 4562 (as it should).  No depr expense is carrying to schedule E.
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Best answer by pmbrioadycpa

Be sure depreciation expense is not allocated to beneficiary in K-1 distribution options

"Depreciation: 1=in fiduciary, 2=prorate to beneficiary [Override]"  leave it blank. 🙂

1 reply

P
pmbrioadycpaAuthorAnswer
Level 2
March 21, 2021

Be sure depreciation expense is not allocated to beneficiary in K-1 distribution options

"Depreciation: 1=in fiduciary, 2=prorate to beneficiary [Override]"  leave it blank. 🙂

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