Question: For the Pizza Piazza partnership return, how would the return change if they had started the business in 2 0 2 2 , including purchasing
For the Pizza Piazza partnership return, how would the return change if they had started the business in including purchasing all of the assets? On the general information screen, the checkbox for initial return would be checked. The depreciation expenses for the assets would be less because of the halfyear convention. Therefore, increasing their distributive shares of income and higher SE taxes would apply. Schedule L would not have entries in the beginningofyear column. On Schedules K and basis worksheets, initial contributions would be entered. The partnership elections would need to be recorded in order to inform the IRS for the beginning of the partnership. The depreciation amounts for each asset would be higher since it is
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