Support CenterSection 179 allows more than $108
🔍 Section 179 allows more than $108
The limitation is not calculated without a copy of Form 4562 and the depreciation worksheets for each of the Section 179 election properties in the return.
⚠️ Before You Begin
You will need:
- A copy of Form 4562
- Depreciation worksheets for each Section 179 election property in the return
📊 Step-by-Step Guide
Step 1: Link from the K-1 to Form 4562
You must create the correct link so the limitation can be calculated.
You must link (press F9) from line 16a on the K-1 for Partnerships and S-Corporations to a Form 4562.
Step 2: Link from Form 4562 to the depreciation worksheet
This ensures the Section 179 election details are entered where the program expects them.
Then, link from line 6a of Form 4562 to a depreciation worksheet.
Step 3: Enter the Section 179 election details
Enter the asset and the Section 179 amount so the limitation can be calculated.
On the depreciation worksheet, enter the asset and amount of Section 179 elected.
Step 4: Confirm the limitation calculation
After the entries and links are in place, the limitation will calculate automatically.
Once completed, the limitation will be calculated on Part 1 of Form 4562.
📞 Still Need Help?
If you are having trouble, contact our support team:
Phone: 1-800-516-9442
Tags: federal,form