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How to enter Carryover of Disallowed 179 deduction

Mpoole
Level 2

I have a new client with carryover of disallowed 179 on the prior year tax return.  I can not find where to enter that amount so that it shows on Form 4562 line 10.

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Accepted Solutions
itonewbie
Level 15

You'd need to go to the input screen for the activity for which §179 was disallowed.  For example, for Sch C, you'd use Screen 16, scroll down to the Depreciation, Depletion, & Amortization section, and enter the amount for Section 179 carryover (and for AMT, if different).  For Sch E, you'd use Screen 18 and scroll down to the Depreciation, Depletion, & Amortization section.  You get the idea...

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Still an AllStar

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5 Comments 5
itonewbie
Level 15

You'd need to go to the input screen for the activity for which §179 was disallowed.  For example, for Sch C, you'd use Screen 16, scroll down to the Depreciation, Depletion, & Amortization section, and enter the amount for Section 179 carryover (and for AMT, if different).  For Sch E, you'd use Screen 18 and scroll down to the Depreciation, Depletion, & Amortization section.  You get the idea...

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Still an AllStar
Mpoole
Level 2

Found it!  Completely missed the (press F1 to where to enter carryover).  Found the spot on Depreciation and Amortization section of Sch F/ Sch C, section 179 carryover.

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Mpoole
Level 2

Thanks

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itonewbie
Level 15

NP, @Mpoole.. If the response solved your problem, you may consider marking it a solution for the benefit of others who have similar questions.

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Still an AllStar
paul adams
Level 1

Thanks for pointing out the 179 carryover.  Blindness is no excuse on my part.  Easy solution