DarinB7493
Level 2
04-09-2025
06:53 PM
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I have an LLC that lost 1 of its 3 partners, and the remaining 2 partners bought out the deceased partner's interest. They have elected Section 754 handling of the step up in basis.
Anyone know the guidelines on depreciation method, convention, etc? Pro Series seems to be fairly rigid on what I can select. I'd like to use SL and allow a full year depreciation in year one, if I can, but I'm getting errors.
Thanks for any input!
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