Question : Hi Richard I’m completing form 1065partnership income tax return. I have a doubt in line 16 I will input the total that correspond to line 22 from form 4562? But what about line 12 of the schedule k (section 179) ??
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Answer : Hey! I’m Carter, I’m a CPA and can help you out.
If you didn’t take IRC 179, you can ignore Schedule K. If you did take IRC 179, then the 179 amount goes on Schedule K. Line 16 gets the amount on Line 22 less the 179 amount.
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