turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

S-Corp Section 179 Deduction is Zero (should be greater than zero)

In Turbotax for Business 2018, I added two business assets and specified section 179 amounts for each of them. I am within the annual limits for the Section 179 deduction and I have sufficient revenue, but Turbotax shows the deduction amount to be zero, even though it should be $791. Can someone please tell me how to correct this?

 

section-179-ded-1.pngsection-179-ded-2.png

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

S-Corp Section 179 Deduction is Zero (should be greater than zero)


@Tony-Sneed wrote:

Can someone please tell me how to correct this?


There is most likely nothing to correct. Enter Forms Mode and take a look at your K-1(s).

Carl
Level 15

S-Corp Section 179 Deduction is Zero (should be greater than zero)

Don't see what the issue is here. I"m seeing a SEC 179 deduction of $791. But there is zero for the completely separate special depreciation allowance which is totally different from SEC179.

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies