We have 2 business each with a K-1 & separate Sect 179 deduction. TT is combining into one 4562. How to tell TT to allocate to sep activites and create two 4562?

Forum|Forum|1 year ago
March 15, 2025
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K-1s are from separate S-corp - one of each of us. TT wants to combine both Section 179 into one 4562. IRS rules say it should be 2, and TT deduction worksheet says to go to help center but there is no useful info or checkbox etc to allocate separately. Also the line 11 total is higher than what we think it should be for the combined entities so it seems to be adding something else but we can't figure out what.

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KeshaH

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