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Partial Section 179 This Year - Where is the Current Year Expense Entered?

I have a $900 computer. I want to take a $500 Partial Section 179 deduction this year and amortize the rest. I select "No" to the annual election, and later "I'll take a partial section 179 deduction this year"  with the amount to deduct = $500. On the next screen it shows "Your estimated expense for this asset is $520" (where $500 is the section 179 deduction and $20 is current year deprecation).

 

However, it doesn't seem that Turbotax is deducting the $500 anywhere? Do I need to enter it myself somewhere?

 

p.s. My income from the business this year is $0. Maybe the section 179 is not allowed in this case?
If so, is there some other way to make a partial deduction this year and the rest in coming year(s)?

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1 Reply

Partial Section 179 This Year - Where is the Current Year Expense Entered?

To answer my own question:

Indeed section 179 deduction is not allowed above business income (it is then carried over to the next year). The solution to my question is to use a $400 partial section 179 deduction AND 100% of the special depreciation allowance.

In this case, the $500 will be deducted this year and $400 will be carried over to the next year (There will be no depreciation).

In my case, it doesn't work as intended anyway because my State does not allow the special depreciation allowance :-(.

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