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A
AX38_2
Level 3
September 30, 2023

Trust depreciation

  • September 30, 2023
  • 1 reply
  • 18 views

Trust has unallowed passive losses on Schedule E.

K-1 first page has no amount on, all zero, should the depreciation still be reported on Sch K-1, page 2?

    This topic has been closed for replies.

    1 reply

    sjrcpa
    sjrcpa
    Level 15
    September 30, 2023

    What are you depreciating?

    There is no page 2 to a 1041 K-1.

    Precisely where is the depreciation showing up? Line and letter.

    Perhaps you have the depreciation set up to flow through separately to the beneficiary instead of being shown with the rental activity. This may or may not be correct. 

    The more I know the more I don’t know.
      A
      AX38_2Author
      Level 3
      September 30, 2023

      Depreciating the building and some improvements. 

      Depreciation is showing on box 9 of K-1, I mentioned K-1 page two as there are multiple properties therefore it creates a second page with a statement.

      Yes, it has been set up to flow through separately to the beneficiary.

      What is the best way to go with this and thank you for your help.

       

       

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