What kind of details is the K-1 providing for that Code W . Unless it is a Section 754 adjustment verify that the amount in Box 13 code "W" has not already been included in your K-1 income (box 1 or 2)If the amount is already included in income, no additional entries are required. See HERE for a further description of the 754 election .The 754 adjustment reduces both inside and outside basis equallyThe benefit is that you will receive deductions on line 13 of his K-1 against income of his tax return each year.
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