Any Section 179, Passive or At-Risk Loss Carryovers?

Forum|Forum|3 years ago
March 31, 2023
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Hello,

I answered yes to the question "do you have any section 179 expense deduction, passive losses, or at-risk losses that were not allowed last year? But the next it asks to enter the section 179 carry over. What is the correct amount?

1) i answered yes

2) Enter 177 carryover

3) Form 3885A has two sections Depreciation and Amortization - and each have a total under them? DO I add both and enter that here or how does this work?

AliciaP1

Part II of CA Form 3885A is Election to Expense Certain Tangible Property (IRC Section 179). If you have an amount on this line you will enter it on this screen in your screenshot.

Part III is Depreciation and Part IV is Amortization.

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chapinreyesAuthor

Hello AliciaP1

Thank you!! Which line are you referring to in the screen attached as I am not clear on your response! Please advice:

AliciaP1

It looks like you got your information in a different format than I expected. When I look up the form it looks like this and I have starred the line where the information would be for a Section 179 carryover.