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janelfrederickse
Level 1
March 29, 2023
Question

I have excess 179 deductions from K-1 and the program won't let me reserve for future. What other options do I have to reallocate?

  • March 29, 2023
  • 2 replies
  • 16 views
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2 replies

dascpa
dascpa
Level 11
March 29, 2023

On 1065 K-1 worksheet double click on Line 12.  Supporting worksheet line 2 you need to adjust.  For prior year's carryover Line 1 and see Form 4562 Line 10.

dkh
dkh
Level 15
March 29, 2023

Is this your return  or a client's return ?    Is there more than one K1 or also a Sched C also on this return?   The Sec179 on the K1 shouldn't exceed the amount of income on K1....... wondering why you have excess 179 .

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