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mmshiloh
Returning Member

What line do i use on form 4562 to show my prior year's section 179 deduction?

what line do i use on form 4562 to show my prior year's section 179 deduction? i am doing my own taxes this year so not sure which number they really want..
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3 Replies

What line do i use on form 4562 to show my prior year's section 179 deduction?

It is Line 10 (not sure if that is at all helpful).

mmshiloh
Returning Member

What line do i use on form 4562 to show my prior year's section 179 deduction?

thanks!  perhaps i need to rephrase my question..:)
turbo tax is asking what my prior year section 179 deduction was...  and not sure which line number they want from my 2021 form 4562 ....  

Carl
Level 15

What line do i use on form 4562 to show my prior year's section 179 deduction?

turbo tax is asking what my prior year section 179 deduction was... and not sure which line number they want from my 2021 form 4562 .... 

I would expect it to be asking specifically for your "carryover" SEC179 deduction from the 2021 form 4562. If so, that's on line 13 of the 2021 form 4562.

If you are being asked this for a specific asset, then you're looking at the wrong 4562.

 

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