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Level 2
posted Mar 17, 2022 1:46:07 PM

Where do I enter depreciation $ for IRS and CA? I'm a limited partner in a multi-apartment complex real estate SYNDICATION in AZ. And will this increase my refund?

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1 Replies
Expert Alumni
Mar 19, 2022 4:50:27 AM

The partnership enters depreciation on the partnership return and the amount is passed down to you on a Schedule K-1 which is what you put into your tax return.

 

Depreciation is subtracted from the partnership income. An overall net loss from the partnership may increase your refund.