rjfnncl
Level 2
03-13-2021
04:06 PM
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Have depreciation Section 179 question: I input assets on Federal Asset Entry Worksheet and elect Section 179 deduction but the Section 179 does not transfer to the Form 1120-S, why?
dkh
Level 15
03-13-2021
06:27 PM
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Sec179 does not get reported on page 1 of Form 1120S - it flows through to the K1s. Look for the amount on page 3 line 11. And not to be mean but this is something you should know if you are preparing corporate tax returns. This information can be found in the F1120S instructions.
Good luck
