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On 1120 S i have 4,000 unrecaptured sect 1245 gain on line 17. it should flow to the 1040 as taxable ordinary income and it doesn't. what am i doing wrong?

luschincpas
Level 1
 
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2 Replies 2
dkh
Level 12

Can you be more specific - Line 17 of K-1?  

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TaxGuyBill
Level 15

Can you clarify what you mean by "unrecaptured sect 1245 gain"?

Do you mean "recapture" the depreciation from 1245 property?

Or do you mean Unrecaptured 1250 gain?

Or something else?

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