Is there a way to transfer fixed assets from a 1065 return into a 1040 return? One partner (spouse in LLC) died so I no longer have to file a partnership return. However, he needs to report the rental properties on his 1040 Schedule E now. Is there a way to transfer all the assets to his Schedule E's so I don't have to re-enter all the assets?
Solved! Go to Solution.
You can import from the 1065 into FAM and then export from FAM into a 1040. The catch is, "once you start down the dark path, forever will it dominate your destiny." You will have to maintain the assets in FAM going forward and do the export/import process every year.
No.
**bleep**! But thanks.
Can you export to FAM then import to Proseries?
I have never used FAM so I have no idea. I just remember the process being brought up here last year.
You can import from the 1065 into FAM and then export from FAM into a 1040. The catch is, "once you start down the dark path, forever will it dominate your destiny." You will have to maintain the assets in FAM going forward and do the export/import process every year.
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