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Level 2

Question

I am entering my schedule k1 form 1120s. In box 17 code k (disposition of assets with prior 179 expense. Its asking for the purchase price. Where would i find that info?

Forum|Forum|5 years ago
March 14, 2021
5 replies
24 views

My K1 has the following info: asset description, tax year passed through, date acquired, date sold, sales price, cost or other basis plus expense of sale, depreciation allowed, Sect. 179 expense deduction previously reported, and AMT depreciation allowed.

TurboTax Premier Online

Level 15

Does the statement have the adjusted basis (cost basis) listed?

lr06Author

Level 2

There is one line that is listed as "cost or other basis plus expense of sale". Is that essentially the purchase price?