topic Business relocation causing Section 179 problem in Business & farm

Business relocation causing Section 179 problem

mrslloyd — Tue, 03 Mar 2020 20:02:21 GMT

We relocated our business in 2018 from Texas to Maine. When I enter our Section 179 assets into TurboTax Business, it still limits the amounts to the Texas deductible amount, even though the Federal Asset Entry Worksheet clearly shows Maine. How to I get the program to stop limiting the Section 179 amount to the Texas limit? Thank you!

Re: Business relocation causing Section 179 problem

ThomasM125 — Wed, 04 Mar 2020 02:32:47 GMT

On your "Business Info" page you need to indicate that the business is "Primarily doing business in" Maine.

Re: Business relocation causing Section 179 problem

mrslloyd — Sun, 08 Mar 2020 15:59:14 GMT

Thank you. The return already does point to Maine as the primary state. My guess is it that the limit is due to our being in Texas for the majority of years and taking Section 179 deductions while there. Many of those items are still on the depreciation schedule. My resolution was to simply state we were taking $0 for Texas on the items purchased after relocating to Maine. It still entered the depreciation for Maine and allowed my to move forward with the return.