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Tenatative Business Income
On Form 1120S, Depreciation Options, Line 3A for Section 179 depreciation lists 'Tentative Business Income' and posts a number that is considerably higher than my actual net imcome and this causes TurboTax to calculate my 179 depreciation incorrectly, causing my TurboTax net income to be a loss. Section 179 depreciation requires a rollover for any amount that puts you in a loss. Any ideas? Thanks!
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‎January 21, 2020
9:07 AM