@Shannon B1 wrote:
Use this as your new basis for the property on Form 1065. The transfer date in 2024 will be the purchase date.
No, not for a Partner's contribution to a Partnership. It continues on using the original Basis, original placed in service date and the prior depreciation.
TurboTax is faulty and gives errors. You need to know how to do work-arounds to avoid the error messages.
