ThomasM125
Expert Alumni

After you file

The section 179 deduction is probably coming from your k-1 entry from ownership in an S corporation or partnership. You can review the K-1 entries and change the section 179 deduction to the amount you are allowed. The section 179 amount is on line 12 of a partnership K-1 and on line 11 of an S corporation K-1.

 

The deduction is not allowed if you are a general partner, and is only allowed up to the amount of your income reported on lines 1 to 3 on the K-1 schedule.

 

 

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