TaxGuyBill
Level 15

First, make sure it qualifies for Section 179.  The rental must rise to the level of a "Trade or Business", plus it must meet the extra requirements for leased property in §179(d)(5).

https://www.irs.gov/publications/p946#en_US_2023_publink1000107407

 

Because of those restrictions, ProSeries automatically assumes it does NOT rise to the level of a "Trade or Business" so it does not add in the rental income to the income limitation on line 11 of the 4562.

*IF* it does qualify, then double click line 11 of Form 4562 and it will show a spot to enter/adjust the income by entering the rental income.

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