Parthership Return

[juliemerrillcpa]

My client sold an apartment building that was placed into service in January 2020.  This Apartment Bldg was purchased in 1987 by a Partnership of which he and his wife were sole partners.   The Apartment was the only property in this Partnership and was fully depreciated.  The basis of the asset was the value of land which was less than $75000.   The sales price was $6,000,000 and his sold in a like-kind exchange for an interest in a DST Partnership with many assets.  The new Partnership contained 2 hotels, Self Rental Portfolios with 15 assets, and Six College Student residential buildings.  Each of these assets which are Partnerships with their own Federal ID Numbers. 

The two Hotels were renamed breaking down the name change by number of months in 2022 that the entity existed under each name.   For example, Detroit Luxury Living was the first name and Detroit Downtown Luxury was the successor.  The Detroit Luxury Living Hotel was assigned income, expense, and depreciation of 3 months, and Detroit Downtown Luxury was assigned the following 9 months. 

Then I was sent a K-1 for the last 9 months which was Federal only.  I was sent the information for the last 9 months for the Detroit Return but am unsure how to handle this in Lacerte.  The DST Partnership has its own accounting department but does not reference a CPA Firm in its 10-page accompanying directions.  I have called the company but it does not return my call.  The directions do not mention how to handle the last 9 months of expense for the State of Michigan.

Any suggestions?