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briechs
New Member

I am trying to fill out my "Federal Carryover Worksheet", what do i put in Line 24, 1st Column?

Section 179 expense.  What is this?
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AmyC
Expert Alumni

I am trying to fill out my "Federal Carryover Worksheet", what do i put in Line 24, 1st Column?

My guess would be zero. If you don't know what sec 179 is, you probably are not using it. Let's be safe and sure.

 

Sec 179 allows you to write off some business items rather than depreciating them. See section 179 for full description of property. You may have an SUV or equipment that you are writing off.

See IRC Section 179 (Cornell Law) for the disallowed amounts. For business equipment over $1,000,000 there is a reduction and over $2,500,000 a complete disallowance.

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