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jojo34
New Member

Can I manually enter on my 2020 return a carryover amount from 2019 for disallowed section 179 property on line 13 of Form 4562 Depreciation?

Is it not pulling from prior year because I did not utilize Form 4562 this year or is there a glitz in the programming?
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3 Replies
ErnieS0
Expert Alumni

Can I manually enter on my 2020 return a carryover amount from 2019 for disallowed section 179 property on line 13 of Form 4562 Depreciation?

No. Enter any Section 179 carryover from last year on the Smart Worksheet of each activity that has a carryover. Enter carryovers of K-1 pass-through deductions on the K-1 Additional Information 1 forms. 

 

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Can I manually enter on my 2020 return a carryover amount from 2019 for disallowed section 179 property on line 13 of Form 4562 Depreciation?

@ErnieS0 

 

The poster is using the ONLINE program which doesn't have the FORMS mode so the answer is useless and the screenshot is impossible to read ... you need to use the attachment function in this forum instead of cut & paste.   

ErnieS0
Expert Alumni

Can I manually enter on my 2020 return a carryover amount from 2019 for disallowed section 179 property on line 13 of Form 4562 Depreciation?

@jojo34 As incredibly awesome @Critter-3 pointed out, the solution I posted is not helpful if you are using TurboTax Online.

 

If your Section 179 carryforward is from Self-employment income and expenses, go to Carryovers, limitations, at risk information, etc. and select I had unused section 179 expenses carrying over from 2019.

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