Section 179

[Silent K Farm]

Question:  On a Section 179 form I have just over $10,000 carried over from last year on my farm and it says I need to reduce it to the allowed amount of $1,046.  I only have $3,000 in expenses this year so I have no idea where to adjust the amounts to add up to $1,046.  This carry over appears to have been generated back in 2016 when I listed a pole barn and the purchase of a side by side for the farm.  Any suggestions on how to make these adjustments?

[PatriciaV · Accepted solution]

Under the Farming topic, go through the entry screens until you come to "Other Situations." The box should be checked for "I have unused section 179 expenses carried over from last year." On the next page, enter the maximum amount provided by the program rather than the full amount carried over from last year.