Last year I had deductions for tools for my job and had section 179, etc for costs and depreciation, etc. It is my understanding Section 179 does not carry over to the next year but I thought there were some items I was depreciating over a number of years

automattocks — Thu, 06 Jun 2019 10:11:08 GMT

Yes, excess Section 179 depreciation does carryover to fu...

PatriciaV — Thu, 06 Jun 2019 10:11:10 GMT

Yes, excess Section 179 depreciation does carryover to future years until used up.

If you entered assets for your job in a prior year, those assets should have transferred over to your current tax return. In this case, you will receive depreciation expense for those assets over their useful life, as long as you continue to use them for business purposes.

To review the information for job-related expenses, search on "2106" (the form used to report these expenses) and jump to the start of that section.

Your occupation should be listed. Click Edit to review. Continue through the screens to the "Asset Summary" page. Any assets under depreciation will be listed here.

If there are no entries in this section, check your prior year tax return to see how you reported these expenses. Also, check to be sure you have logged into the same TurboTax account that you used last year (all your info should have transferred over).

topic Last year I had deductions for tools for my job and had section 179, etc for costs and depreciation, etc. It is my understanding Section 179 does not carry over to the next year but I thought there were some items I was depreciating over a number of years in Deductions & credits

Last year I had deductions for tools for my job and had section 179, etc for costs and depreciation, etc. It is my understanding Section 179 does not carry over to the next year but I thought there were some items I was depreciating over a number of years

Yes, excess Section 179 depreciation does carryover to fu...