only 179 is subject to carryforwrd rules (both at the S-corp and taxpayer level) and there is no limit on the number of years it can be carryforward
special depreciation 168(k) should be allowed even if it produces a loss. for an S-corp it doesn't matter whether the loss comes from bonus depreciation or other deductions but you must have a tax basis in the S-corp for the loss to be allowed on the taxpayer's return. if losses exceed tax basis they're suspended until three is sufficient basis t take the loss
at the taxpayer level if they have sufficient basis to take the loss then the taxpayer may have an NOL (net operating loss). Turbotax does not compute the NOL (and you may have to fill out the at-risk form 6198 so Turbotax properly limits any allowable loss besides form 7203 - basis computation for S-corp. you're on your own but you can use schedule A of form 1045 to compute it. read the instructions so you know what goes on each line.
https://www.irs.gov/pub/irs-pdf/f1045.pdf
nols for 2022 can only be carried forward and there can be a limitation on the amount that can be used in the subsequent years pursuant to IRC 461(l)
presently 168(k) is being phased out but it has no effect on the amount taken in previous years and the tax laws can always be changed again
(i)in the case of property placed in service after September 27, 2017, and before January 1, 2023, 100 percent,
(ii)in the case of property placed in service after December 31, 2022, and before January 1, 2024, 80 percent,
(iii)in the case of property placed in service after December 31, 2023, and before January 1, 2025, 60 percent,
(iv)in the case of property placed in service after December 31, 2024, and before January 1, 2026, 40 percent, and
(v)in the case of property placed in service after December 31, 2025, and before January 1, 2027, 20 percent.
