I have a section 179 carryover 0f $2000 from 2017. The system carried this over to the 2018 forms. However, when I run a final check on my forms section 179 error comes up: "The total Section 179 deduction entered on your tax return is currently greater than the amount allowed to you, based on a Section 179 taxable income limit we have calculated. You must reduce your total Section 179 deduction so that it matches the taxable income limit." What/how is a Section 179 "income limit"
What/how is a Section 179 "income limit"
With respect to Section 179 deductions, there is a dollar limitation and an income limitation.
I have to presume you are running into the income limitation, which is as follows:
A taxpayer’s § 179 deduction for any taxable year...is limited to the taxpayer’s taxable income for that taxable year that is derived from the taxpayer’s active conduct of any trade or business during that taxable year.