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Level 5
August 10, 2021
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1065 - 179 Carryover, EBIE Carryforward

  • August 10, 2021
  • 1 reply
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1065 has a Section 179 carryover and an Excess Business Interest Expense carryforward (tiered partnership).  Report as M-1/M-3 adjustments?

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Best answer by sjrcpa

Yes. Deductions on books not on tax return.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
August 10, 2021

Yes. Deductions on books not on tax return.

The more I know the more I don’t know.