Only complete this item if the partnership is a small business entity using the simplified depreciation rules.
To complete this item, use the amounts calculated for small business entity depreciation deductions at K item 5:
- deduction for certain assets (costing less than $6,500) – show at A the total amount claimed relating to these assets
- deduction for small business general pool assets – show at B the total amount claimed relating to the general small business pool
Only put the depreciation deduction in the two small business entity depreciating asset labels, and not the pool balance.