Screen K1-3: Schedule K-1, 1065 / 1041 Deductions (Form 1120)

Deductions

Enter the section 179 expense from the pass through entity. The application automatically limits the amount to the basis, passive-loss, and at-risk limitations, if applicable.
Enter the noncash contributions reported on the Schedule K-1 from the pass through entity, and the adjusted basis of the property contributed by the entity, in the attached statements.
The adjusted basis of the property is subject to basis limitations, if applicable. The difference between the Schedule K-1 amount and the adjusted basis allowed under the basis limitations is included in the charitable contribution deductions for the corporation.
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