Discussion:1041 Estate Depreciation
From TaxAlmanac, A Free Online Resource
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Basic Tax Questions --> 1041 Estate Depreciation
Discussion Forum Index --> Tax Questions --> 1041 Estate Depreciation
Tonnapadgett@earthlink.net (talk|edits) said: | 18 October 2007 |
| I have a 2005 and 2006 estate return that includes depreciation for a rental property. For 2005, the estate had DNI of 446, which passed through to one beneficiary, the only one of four beneficiaries who received a distribution from the estate ( which was in excess of DNI). In 2006, the estate did not have DNI. The rental property was sold and the basis on the 4797 is adjusted for both the 2005 depreciation as well as the portion of the year of 2006 that the estate owned the rental property. No distributions to beneficiaries were made in 2006. The depreciation is wanting to be carried through to the K-1's only to the beneficiary who received the distribution in 2005...rather than equal shares to all four beneficiaries. Is this correct? | |
To join in on this discussion, you must first
log in.
