Thank you for your response!
I presented these facts to the SC Department of Revenue as also shown in my tax return supplied earlier.
"My Book Income is $191 (excluding interest income of $20). My Section 179 expense is $69,072.
Line 21 of my Federal Return is $69,263 (Book Income $191 plus Section 179 of $69,072)
Line 1 of Schedule K of the Federal Return is $69,263
Line 4 of Schedule K of the Federal Return is $20
Line 11 of Schedule K of the Federal Return is $69,072.
The TurboTax calculation for Line 1 of the South Carolina 1120S is showing $138,355 ($69,263+$20+$69,072).
Should Line 1 of the South Carolina return be $211? ($69,263+$20-$69,072) which treats Section 179 as a deduction?"
They concurred that the amount on Line 1 of the South Carolina 1120S should be $211 instead of $138,355.
Any help would be appreciated.
Thank you!
