Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 12, 2019 5:36:38 AM

How to fix Carryover Worksheet: Line24: Total Section 179 carryover shown here does not match the sum of the Section 179 carryovers shown on each individual activity?

0 2 1864
2 Replies
Not applicable
Oct 12, 2019 9:44:14 AM

not saying this is the reason but each activities 179 is computed on its own  but then all the separate activities must be combined to see if you exceeded any of the limitations

Line 1
Generally, the maximum section 179
expense deduction is $1,000,000

Line 3
The amount of section 179 property for
which you can make the election is
limited to the maximum dollar amount
on line 1. This amount is reduced if the
cost of all section 179 property placed in
service in 2018 is more than
$2,500,000.

 

 

for example say you claimed a total of $1,200.000 in 179 in total from the separate activities

and you are not subject to the reduction on line 3

business income limit is $700,000

so $700,000 is allowed

$300,000 is carryover

that extra $200,000 in 179 is lost!!!! - no carryforward,

 

 

another possibility is that you have a business activity with a loss.  This will reduce the allowable 179 only on the summary 4562

 

 

there should be a summary 4562, review it.

 

 

if this isn't the issue contact support since we can not see your returns 

 

https://ttlc.intuit.com/community/turbotax-support/help/03/313

 

 

Level 3
Mar 9, 2021 10:08:36 AM

I had this same error which turned out to be an omission in Turbo Tax.  Turbo Tax corrected the problem in a special update:

 

https://ttlc.intuit.com/community/updating/help/manually-update-turbotax-for-windows-soft[product key removed]e-premier-home-business/01/26041#M187 

 

You may want to try this or call Turbo Tax Support for guidance.