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Bulk Sale

Phil Kinzel
Level 1

How do I enter on form1065 the bulk sale by a partnership of a building and furniture and equipment all of which is almost fully depreciated.  The sale is an installment sale. I entered 1 for bulk sale on screen 14.  I get several diagnostics that the depreciation method is different from the main asset and the recapture will not be correctly reported on form 4797.

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1 Comment 1
sjrcpa
Level 15

Make it 2 bulk sales. One for real property and improvements and one for personal property.


Ex-AllStar