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- Is the Section 179 Deduction for NC Corporate Tax Return working properly
Is the Section 179 Deduction for NC Corporate Tax Return working properly
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RAS1976
Level 3
04-08-2023
09:33 AM
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I just notice this morning that on my 2022 S Corporation returns that the Section 179 deduction ($25,000 and lower) is not being passed though the NC corporate tax return or the stockholders' K-1s. Has anyone noticed this issue? I have tried to figure out whether I have processed it incorrectly but cannot tell. Any feedback on this issue would be greatly appreciated.
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RAS1976
Level 3
04-08-2023
11:18 AM
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Excuse my ignorance because another CPA explained to me that Section 179 was coming through to arrive at Federal Adjust Gross Income which is the starting point on the NC individual tax return.
