1120 Section 179

[deanhal]

Anyone have steps to enter 179 deduction in 1120 Lacerte module?  Entered in deprecation screen and only getting the bonus to calculate.  Still have $10,000 more before I hit the income limitation.

[deanhal]

if I manually enter current section 179 amount it will calculate.  This is on screen 4562

[George4Tacks]

You did not share your software, so I will assume Lacerte. Bonus comes first. If you don't want it you need to override with the universal -1 (NEGATIVE IS A ZERO throughout the program). You may also elect a larger number, if you wish. .179 should they adjust accordingly.

FYI -= Post your software, module and year you are working on. 

[deanhal]

Lacerte 2023

[George4Tacks]

Read this article. https://accountants.intuit.com/support/en-us/help-article/federal-taxes/special-depreciation-input-e...