PKCPAMST
Level 5
05-05-2021
04:15 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Here is the solution:
Go to Screen 22 - Other Schedule K Items. Select Section - 179 Deduction (4562) (the very last section)and go to the field "Taxable income for limitation (O)" and enter the Section 179 carryover amount. That will zero out Line 13 - Carryover of disallowed deduction to 2021 on Form 4562, without affecting the balance sheet.