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posted Jun 6, 2019 1:17:49 AM

Should I delete the details of previous years section 179 deductions that are still showing on this current year section 179 deduction?

The reason why Im asking this s that the previous years Section 179 deductions are showing on my total deductions.

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1 Replies
Intuit Alumni
Jun 6, 2019 1:17:51 AM

The previous 179 will show since the asset has been depreciated (or lowered in value) by that amount already. 

This amount should only apply to the asset on Form 4562, it should not carry over to your Schedule C and be added to your business expenses.