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D
deanhal
Level 2
November 18, 2024

1120 Section 179

  • November 18, 2024
  • 2 replies
  • 12 views

Anyone have steps to enter 179 deduction in 1120 Lacerte module?  Entered in deprecation screen and only getting the bonus to calculate.  Still have $10,000 more before I hit the income limitation.

2 replies

D
deanhalAuthor
Level 2
November 18, 2024

if I manually enter current section 179 amount it will calculate.  This is on screen 4562

 

George4Tacks
George4Tacks
Level 15
November 18, 2024

You did not share your software, so I will assume Lacerte. Bonus comes first. If you don't want it you need to override with the universal -1 (NEGATIVE IS A ZERO throughout the program). You may also elect a larger number, if you wish. .179 should they adjust accordingly.

 

FYI -= Post your software, module and year you are working on. 

Answers are easy. Questions are hard!
    D
    deanhalAuthor
    Level 2
    November 22, 2024

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