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Updated about 1 year ago,

User Stats

12
Posts
7
Votes
Doug Effinger
7
Votes |
12
Posts

How does syndication depreciation work.

Doug Effinger
Posted

As an owner of a couple of duplexes I have benefitted from depreciation over the past 20 years. I am now looking to move into passive investing and still want the benefits of depreciation to lower my taxable income (if possible). Presently I simply have a line item on my schedule E (1040) which allows me the deduction. How does this work as an LP to a syndication? What is the tax form(s) used to depreciate the LP portion and what is the form that is sent out from the GP showing the amount of depreciation? I did not see a line item on the K-1 for depreciation. Am I missing something?  

Thanks In Advance.

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