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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.
‎August 22, 2023
1:00 PM