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Deductions & credits
@wellhopper wrote:
....BUT there will NOT be an entry on said line or any other line of the partners' K-1 until the deduction is finally resolved "in the future at the partnership level" which can ONLY be done by filing a Form 4952....
No, sorry, but you're wrong (so is Support if they told you that). Form 4952 is not filed with a 1065.
The deduction is passed through the partners (members) on Line 13 (H Code) of the K-1s (1065). Each partner (member) then enters that figure in their individual income tax returns (which does get reported on Form 4952 at that point).
‎August 26, 2023
3:12 PM