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section 179 depreciation carried over by TurbiTax

Forum|Forum|6 years ago
March 23, 2020
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Is the unused section 179 deduction amount automatically carried over by TT?

If not, how can I determine what was used last year, or several years ago?

Best answer by DavidS127

Yes, if you use TurboTax in a year you had a Section 179 deduction, TurboTax will carry any unused amount to the next year's TurboTax return when the prior year tax file is used to start the current year tax return. TurboTax Download/CD customers must have access to the prior year tax file on the computer they are using, and TurboTax Online users must use the same account used in the prior year.

DavidS127Answer

Yes, if you use TurboTax in a year you had a Section 179 deduction, TurboTax will carry any unused amount to the next year's TurboTax return when the prior year tax file is used to start the current year tax return. TurboTax Download/CD customers must have access to the prior year tax file on the computer they are using, and TurboTax Online users must use the same account used in the prior year.

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K

kallyfernandez

I have a copy in front of me and the amounts are the same but its telling me its not

K

kallyfernandez

I'm having problems filling my tax 2020 because its saying that my 2019 section 179 expense is not correct on my carryovers from last year can I please talk to someone