Thanks for all the replies to my request! It's comforting to see that you all agree regarding the requirement of recognizing all sec 179 deduction allowed in the current year.
I was surprised to see that I can't defer allowable sec 179 deductions. CoPilot which gave me a conflicted response. I now switched everything back to claim the portion allowed by my basis limitation. Too bad I chose it in my corporate return because the deduction goes to waste. Live and learn, I guess.
There is only one business. It's a SubS corp and it's 100% active. I don't think there's any limitation other than basis but I don't understand how the Schedule K-1 At-Risk Limitation Allocation Worksheet works and neither why it would be relevant to my case.
I still have the problem with a red number on line 12 of form 4562 that I don't have any obvious ways of dealing with as described in my initial question. Still wondering if I should just delete the form.
Any advice appreciated.
