how to limit 179 deduction from s corp K1

Forum|Forum|6 years ago
March 20, 2020
7 replies
35 views

Have a client with S Corp K1. Has 179 line 11, but he does not materially participate in the S Corp, and I can't seem to disallow the deduction with out overriding. Can someone point me in the right direction. I would think that if I did not check box referencing materially participate on the K1 the program would not deduct it, but it does.

Thanks

ProSeries Professional

This topic has been closed for replies.

Best answer by IRonMaN

Also assuming we all agree that the 179 should not be used, how do i accomplish that in the program

You learn something new everyday 😀

You would think that is something the program would handle correctly. Sounds like you might have to just ignore the section 179 entry on the K-1 worksheet.

IRonMaN

Level 15

I think you already found the right direction - the program is handling it correctly.

Slava Ukraini!

T

Terry53029

Author

Intuit Community Champion

The program is deducting the 179 from clients income, and I believe section 469 says if TP does not materially participate it must be carried over, and can't be used this year

sjrcpa

Level 15

I thought if they're passive they can't use 179 period.

The more I know the more I don’t know.

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