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Entering Section 179 Carryover in the Corporate Module

SOLVEDby IntuitLacerte Tax10Updated July 27, 2021

Where do I enter Section 179 Carryover in the Corporate module?

Solution Description

Lacerte will automatically carryover any disallowed Section 179 from the prior year. However, if the prior year return was not prepared in Lacerte the input screen to enter the Section 179 carryover, will depend on the activity or form the asset is tied to.
Form 1120:
  1. Go to Screen 20, Deductions.
  2. Scroll down to the Depreciation subsection.
  3. Enter the amount in Section 179 carryover.
Form 1125-A, Cost of Goods Sold:
  1. Go to Screen 14, Cost of Goods Sold.
  2. Locate the Depreciation subsection.
  3. Enter the amount in Section 179 carryover.

From a Passthrough K-1:

  1. Go to Screen 16, Schedule K-1.
  2. Scroll down to the Deductions section.
  3. Enter the amount in Section 179 carryover.

From a Farm Activity:

  1. Go to Screen 17, Farm Activities.
  2. Scroll down to the Farm Expenses section.
  3. Locate the Depreciation subsection.
  4. Enter the amount in Section 179 carryover.

From a Rental/Other Passive Activity:

  1. Go to Screen 18, Rental/Other Passive Activities.
  2. Scroll down to the Expenses section.
  3. Locate the Depr. subsection.
  4. Enter the amount in Section 179 carryover.
From an Oil and Gas Set:
  1. Go to Screen 19, Oil and Gas.
  2. Click on the Set from the left navigation panel.
  3. Locate the Overhead Depreciation and Amortization subsection.
  4. Enter the amount in Section 179 carryover.

From an Oil and Gas Property:

  1. Go to Screen 19, Oil and Gas.
  2. Click on the Property from the left navigation panel. (This will take you to Screen 19.2.)
  3. Scroll down to the Depreciation and Amortization subsection
  4. Enter the amount in Section 179 carryover.

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