itonewbie
Level 15

How did the §179 expense get allocated on the K-1 to your client as a trust?  Something is not right since §179(d)(4) specifically denies estates and trusts the use of this provision and the regulations stipulate that the basis should be adjusted for such amounts otherwise allocable (with the resultant effect being that other partners could disproportionately benefit from this unless remedied by the partnership agreement).

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Still an AllStar