K-1 Entry

[GTS]

I'm doing a K-1 ffrom a partnership for the first time. There is a negative value in Box 17 code F (ACE Depr Adj). I'm not familiar with the term ACE Depr. Does anyoen know where this would go on the 6251? Everything I've read days to put it on the appropriate 6251 line, but doesn't mention which line this is. I'm thinking line 26, but just not sure. Thoughts?

[veritas]

That is depreciation adjustment for real property prior to 1987. It is an alt min item.

[Deltax]

I'm doing a K-1 ffrom a partnership for the first time. There is a negative value in Box 17 code F (ACE Depr Adj). I'm not familiar with the term ACE Depr. Does anyoen know where this would go on the 6251? Everything I've read days to put it on the appropriate 6251 line, but doesn't mention which line this is. I'm thinking line 26, but just not sure. Thoughts?

This is kind of strange to me.When I enter the info on my software it carries it wherever it has to go. I do not have to go to the respective forms and make any other entry.
I use Drake Software

[veritas]

Maybe GTS is using TroubleTax.

[Bees Knees]

I'm doing a K-1 ffrom a partnership for the first time. There is a negative value in Box 17 code F (ACE Depr Adj). I'm not familiar with the term ACE Depr. Does anyoen know where this would go on the 6251? Everything I've read days to put it on the appropriate 6251 line, but doesn't mention which line this is. I'm thinking line 26, but just not sure. Thoughts?

ACE Adjustment only applies to C corporations. A C corporation must make an ACE adjustment in computing AMT. (line 4 of Form 4626)

The partnership making this entry on the K-1 probably has a C corporation partner that would be subject to this. Otherwise, there is no reason why an individual partner in a partnership should get that kind of adjustment on the K-1

[GTS]

K-1 Entry

Thanks for the info. I appreciate it.