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ElizabethR
Level 1
September 5, 2024
Question

Step up Basis Depreciation

  • September 5, 2024
  • 1 reply
  • 7 views

I'm trying to allocate step up basis depreciation to one partner on Form 1065 flowing to K1 - line 13 code W other deductions. The problem is I have to first put it on schedule k and it's not allowing me to do it. Anyone else have a similar situation? And how did you fix it?

 

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1 reply

dascpa
dascpa
Level 11
September 6, 2024

On Schedule K-1 Worksheet under Special Allocations list 100% under #1 (By Ratio) for that partner.

Then on Schedule K (Line 13N) also list "1" in the Special Allocation box.  That will link the 754 depreciation together.

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