Will turbo tax see the section 179 carryover when I import my 2018 tax to 2019 automatically? Where will the carryover deduction show up in turbo tax? Will there be any limitations assuming my business has a large net profit?
Yes, TurboTax will see the Section 179 Carryover Loss when you import your 2018 tax to 2019.
You will be able to take the entire loss, whether you have a business net profit or not.
Here's more detailed info:
Yes, TurboTax will see the Section 179 Carryover Loss when you import your 2018 tax to 2019.
You will be able to take the entire loss, whether you have a business net profit or not.
Here's more detailed info:
I just discovered that I accidentally overrode settings last year and my line 13 is blank even though I had carryover. Should I file an amended 2018 return for 4562 to correct. Or just file this years taxes with the right info?