My wife and I entered into a small equipment leasing contract in May 2017 with a local business: refrigerators for a food production facility. We've been told to use a Section 179 deduction so we can deduct the full amount in 2017. I've read the voluminous set of Sec 179 rules. But where do I begin the process in TurboTax Deluxe to list the equipment data and get to Form 4562. Also, we have earned income of $6000 in 2017, plus lease payments to us of $1100. Can we deduct both of these and carry forward the rest of the deduction to 2018 and beyond until exhausted? This one is tough..we appreciate your best answers.
