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?

[lr06]

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.

[Anonymous_]

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

[lr06]

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

[lr06]

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

[Anonymous_]

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@lr06 wrote:

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

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Yes, it should be, but be sure to leave the Expense of Sale box blank (or enter a zero) since it appears selling expenses have already been included in the basis.

[lr06]

Thank you for your assistance!!