641979
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.

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.

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.

1 Reply
KrisD
Intuit Alumni

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

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. 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question