2005 1065 K-1 Line 20 code F
From TaxAlmanac
The partnership will report your distributive share of gain or loss on the sale, exchange, or other disposition of property for which a section 179 expense deduction was passed through to partners with code F. If the partnership passed through a section 179 expense deduction to its partners for the property, you must report the gain or loss and any recapture of the section 179 expense deduction for the property on your income tax return (see the Instructions for Form 4797 for details). The partnership must provide all the following information withrespect to a disposition of property for which a section 179 expense deduction was passed through to partners.
1. Description of the property. 2. Date the property was acquired and placed in service. 3. Date of the sale or other disposition of the property. 4. Your distributive share of the gross sales price or amount realized. 5. Your distributive share of the cost or other basis plus the expense of sale (reduced as explained in the Instructions for Form 4797, line 21). 6. Your distributive share of the depreciation allowed or allowable, determined as described in the Instructions for Form 4797, line 22, but excluding the section 179 expense deduction. 7. Your distributive share of the section 179 expense deduction (if any) passed through for the property and the partnership’s tax year(s) in which the amount was passed through. To compute the amount of depreciation allowed or allowable for Form 4797, line 22, add to the -12-Partner’s Instructions for Schedule K-1 (Form 1065)
� amount from item 6 above the amount of your distributive share of the section 179 expense deduction, reduced by any unused carryover of the deduction for this property. This amount may be different than the amount of section 179 expense you deducted for the property if your interest in the partnership has changed.
8. If the disposition is due to a casualty or theft, a statement providing the information you need to complete Form 4684, Casualties and Thefts. 9. If the sale was an installment sale made during the partnership’s tax year, any information you need to complete Form 6252, Installment Sale Income. The partnership also must separately report your share of all payments received for the property in the following tax years. See the Instructions for Form 6252 for details.
