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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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Limit 179 election
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pbp
Level 3
04-15-2023
11:58 AM
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have a section 179 deduction from a K-1 that has been limited. I received an error message saying that I should reallocate the deduction, etc. How do I reallocate this deduction when I only had a section 179 deduction on one K-1 activity?
This was posted earlier
I have the same problem
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dascpa
Level 11
04-15-2023
12:30 PM
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On the K-1 data entry worksheet, go into the QuickZoom just below the Sec 179 entry line. On line 2 enter the limited amount. The balance will be carried forward automatically.
pbp
Level 3
04-15-2023
08:28 PM
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Thank you!!!!
