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Tags: federal,form
How do I get depreciation to calculate correctly on Form 1065 - Depreciation calculationForm 45621065 pg 1 line 16a
The depreciation is correct . On a 1065 return section 179 deduction will be shown on the partners Sch K.
The amount will beshown on page 4, line 12 of the Form 1065, Sch K.
The section 179 will not be deducted from income on Form 1065, page 1, line 16a.
The amount for section 179 will split among the partners and will be shown on their Sch K-1 line 12.
On a 1065/1120S return Section 79 deduction from income will be shown on the partners or shareholder form 1040 return.
The amount on line 16a will be for special depreciation and regular depreciation.
Tags: federal,form