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Federal and State Taxes are done. Ready to E File but the Carryover doesn't Add Up on Line 24. How can I correct this to proceed.

Forum|Forum|6 years ago
February 26, 2020
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Best answer by KathrynG3

There are different types of Carryovers that can be reported. What form are you referencing that doesn't add up on Line 24?

KathrynG3Answer

There are different types of Carryovers that can be reported. What form are you referencing that doesn't add up on Line 24?

L

leonard-poggiAuthor

The form for the Carryover that I'm using is Form 4562 the Carryover of disallowed deduction to 2019 is 400

Please Advise Thanks, Leonard Poggi

KathrynG3

There could be an income limitation, requiring you to carryover the disallowed deduction from Section 179 property. In such a case, the amount from line 13 of your 2018 Form 4562 is required in 2019 on Line 10, or it is an amount involved in a like kind exchange.

If your issue relates to Section 179, see this article about how to get your carryover entered.

Click for more details from these resources:

2019 Form 4562

2019 Form 4562 Instructions