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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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- NC Section 179 data entry from NC K-1
NC Section 179 data entry from NC K-1
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tim05
Level 3
08-16-2022
02:30 PM
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I have a NC Partnership return; the partnership had one 2021 new assets cost $225,000, that section 179 taken was $55,000. The NC K-1 prepared a supplement schedule saying there is a investment threshold limit and a section 179 limit. However when I enter this on the individual NC K-1 screen it does not carry the addback amount to the NC 400 line 7. Does anyone know if this is right or should the program add the addback amount to line 7? I was on the phone with a very intelligent proseries support guy and he determined that the program was working correctly. He would not answer the question as to why the program was not adding the amount to D-400 line 7.
PLEASE HELP
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