Where do I enter Section 179 Carryover from prior year for Sub-Chapter S Corp

[amysbrown]

Working on an 1120-S that has Section 179 carryover deduction that can partially be used this year (up to income limitation) but can't find where it can be entered in Turbo Tax Business edition. 

[Mike9241]

Technically an S-corp never has a 179 carryover. the 179 deduction is passed through to the shareholders and any limitation is computed at the shareholder level (1040)

[amysbrown]

Hey @Mike9241 while that's a technically correct answer, it doesn't help provide practical guidance on how to get the Section 179 carryover entered on the Sub-Chapter S return so that it can carry to the K-1 and then be deducted on the shareholder's personal return.

I've added a 4562 to the "activity" that the carryover is related to, entered the current year income limitation and Turbo Tax is now asking for a different amount of carryover to be entered on a DIFFERENT "activity" on the 199A worksheets. I am not adding any new assets this year (to either activity) and, I just have depreciation amounts (for both activities) for assets purchased in prior years. 

I'm thinking I'll delete the 4562 and attempt to start over. If that fails, I may delete the entire return and start completely over.