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March 29, 2023
Question

Where is the limitation on sec 179 passthrough deduction covered?

  • March 29, 2023
  • 2 replies
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2 replies

DawnC
Employee
March 29, 2023

Can you clarify with some more details on what you are looking for?   In general, Sect 179 deductions will be entered in the Assets/Depreciation section(s) of TurboTax.   It is in a different place depending on whether or not you are entering deductions for a business, a rental property, a K-1, etc...

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March 29, 2023

form 4562

line 11 is the limitation for the current year while the total of lines 9 and 10 is what's available.

you can have multiple 4562s if there are multiple sources of depreciation but there should be one that's a summary.