Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- Partnership Liquidation Sec 751
Partnership Liquidation Sec 751
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
dthornton
Level 1
08-17-2022
03:21 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
A partnership liquidates and distributes mulitiple rental properties. Even though the fair market value of the property distributed to each partner is approximately the same, some have greater accumulated depreciation than others. This is a dispropotionate distribution under 751. Is a computation that the individual partner makes? Or does the partnership report this?
Labels
2 Comments 2
sjrcpa
Level 15
08-17-2022
03:31 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Do you mean the adjusted basis for each property is different?
Ex-AllStar
dthornton
Level 1
08-17-2022
03:41 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Correct. The basis of each property is different.
