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New Member
posted Mar 15, 2025 11:28:30 AM

We have 2 business each with a K-1 & separate Sect 179 deduction. TT is combining into one 4562. How to tell TT to allocate to sep activites and create two 4562?

K-1s are from separate S-corp - one of each of us. TT wants to combine both Section 179 into one 4562. IRS rules say it should be 2, and TT deduction worksheet says to go to help center but there is no useful info or checkbox etc to allocate separately. Also the line 11 total is higher than what we think it should be for the combined entities so it seems to be adding something else but we can't figure out what.

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1 Replies
Expert Alumni
Mar 25, 2025 5:05:29 PM

If you'd like, we can look at your return and see exactly what you see to  help come to a resolution. The return will be scrubbed and won't include any of your personal details.

 

If you're using TurboTax Online:

Once you're logged in to your account,

- on the left hand panel, click on Tax Tools and then choose Tools

- on the pop up window, select Share my file with Agent

- you'll see a message saying you'll give us a copy of your tax return. Your personal information will be changed so we can't see any private information.

- click okay and you'll get another message with a token

 

If you're using TurboTax Desktop:

  • Click on Online in the top menu of TurboTax Desktop for Windows
  • Select 'Send Tax File to Agent'
  • Write down or send an image of your token number and state then place in this issue.
  • We can then review your exact scenario for a solution

 

Please reply to this message with your token so that we can further assist you. Let us know all other states that are included on the return.