Deductions & credits


@bylerandersoncon wrote:

I had a business asset that was fully depreciated through Section 179


 

Is this a Partnership or a S-Corporation?

 

The disposition of assets that had Section 179 don't directly show up on the entity return.  The information should end up on the K-1 and the actual sale numbers should show up on the 1040.

 

Those summary screens on TurboTax can be weird and deceiving at times, so I suspect it is just showing something weird because of the special rules for Section 179.