I put in an asset for $20,748 and clicked Section 179 deduction for the entire amount and it is not showing up anywhere on the tax return (client has a loss). Is there a carry forward for this ?
You may want to look into the following ... I believe the Section 179 deduction is limited to the taxpayers aggregate taxable income derived from the active conduct of all trades or businesses. Taxable income is computed without regard to any Section 179 deduction and other items. Look this up and you will see the details. Hope it helps you. Just my opinion