Problem: Section 179 expense is NOT flowing through to the Schedule M-1 worksheet, pg 2 "Timing Items." The first line "Depreciation and section 179 expense," middle column for "TAX"
I have to OVERRIDE THE AMOUNT IN THIS CELL, AND IT SHOULD BE AUTOMATIC.
I'm using 2018 ProSeries Professional, and this is a 1065, Partnership tax return.
This discussion has been locked. New comments cannot be posted on this discussion anymore. Start a new discussion
Great to see you in the community. In ProSeries, on the Schedule M-1 Smart Worksheet check to see if under the Book Depreciation Options Smart Worksheet the Yes box is checked for "Are depreciation and amortization for book purposes the same as depreciation and amortization for tax purposes?". I see that if I mark this Yes, then the second column for the Depreciation and section 179 expense fills in.
You have clicked a link to a site outside of the ProConnect Community. By clicking "Continue", you will leave the Community and be taken to that site instead.