Question
Entering form 1099A for a partnership return 1065
Good day, Can anyone help with an entry of form 1099A in a partnership return. The client started a business and abandoned in the same year. They bought a truck and unfortunately it was repossessed receiving form 1099A.
FMV showing $15000
Balance of loan $49859, and they originally purchased vehicle for $64,000.
How do I treat this entry on the form 1065.
Thank you,
Angela
