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Level 1
September 21, 2024
Question

HOW DO YOU ENTER A DISALLOWED SECTION 179 DEDUCTION FROM A PARTNERSHIP SCHEDULE K-1 ON AN INDIVIDUAL TAX RETURN?

  • September 21, 2024
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1 reply

PhoebeRoberts
Intuit Community Champion
September 21, 2024

The 1065 K-1 reports everything that's allowed at the partnership level. Lacerte will calculate the "lack of business income" / basis / at-risk / passive carryforward, if applicable.

If you've got a prior-year carryforward you're trying to enter, was it suspended for lack of business income, basis, at-risk, or passive in the prior year?