sjrcpa
Level 15

"flowing to M-1 line 5a as nontaxable instead of taxable gain flowing to K-1"

Not quite.

M-1 Line 5a is income recorded on books not included on Sch K Line 1 - 10.

Gain on assets where 179 was used does not appear on hose lines.

It gets passed through separately to the shareholders as a statement.


Ex-AllStar