Styles What Would change? what would change in Form 1065 if your scenario were true Scenarios: 1. If a client elects section 179 expense instead of bonus depreciation for the same amount on assets producing ordinary income? Remember to consider the impact to: . Schedule M-1 Schedule M-3 Balance Sheet . Income Statement . Trial Balance Book Adjusting Entries & Tax Reclasses Schedule K . Form 8825 . Investments Partners Capital Accounts . Partners Liabilities Book-to-Tax Adjustments