1065-US: Indicating specially allocated depreciation is for section 754 (FAQ)

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Question

How do I indicate that specially allocated depreciation is for section 754?

Answer

By default, UltraTax CS uses the description "Specially Alloc Depreciation" in the statements for Schedule K, lines 11 and 13d; Schedule K-1, box 11, box 13, and box 20; and the Analysis of Partner’s K-1, Current Year Increase (Decrease) Worksheet. To change this description to "Section 754 Adjustment," mark the Use section 754 for specially allocated depreciation description field in Screen CltOptns.

Related topic: Section 754 election FAQ (1065)

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