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If leasehold improvements are sold where does the loss get…

If leasehold improvements are sold...
If leasehold improvements are sold where does the loss get deducted on form 1065? Are leasehold improvements considered section 1231 property?
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Answered in 3 minutes by:
3/13/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,312
Experience: Adjunct Professor
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Hey! I'm Carter, I'm a CPA and can help you out.

They go to Form 4797 and then carry over to page 1 on Form 1065.

The are considered 1250 property.

Let me know if you need anything else. If not, please leave a rating. Thanks!

Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,312
Experience: Adjunct Professor
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