Entering Section 179 Carryover in the Corporate Module of ProConnect Tax

Where do I enter Section 179 Carryover in the Corporate module?

ProConnect Tax will automatically carryover any disallowed Section 179 from the prior year. However, if the prior year return was not prepared in ProConnect Tax the input to enter the Section 179 carryover, will depend on the activity or form the asset is tied to.

Table of contents:

Form 1120:

1. Go to Input Return ⮕ Deductions ⮕ Deductions again.
2. Scroll down to the Depreciation subsection.
3. Enter the amount in Section 179 carryover.

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Form 1125-A, Cost of Goods Sold:

1. Go to Input Return ⮕ Income ⮕ Cost of Goods Sold
2. Locate the Depreciation subsection.
3. Enter the amount in Section 179 carryover.

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From a Passthrough K-1:

1. Go to Input Return ⮕ Income ⮕ Schedule K-1
2. Select the Lines 12-20 tab
3. Scroll down to the Deductions section.
4. Enter the amount in Section 179 carryover.

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From a Farm Activity:

1. Go to Input Return ⮕ Income ⮕ Farm Activities
2. Scroll down to the Farm Expenses section.
3. Locate the Depreciation subsection.
4. Enter the amount in Section 179 carryover.

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From a Rental/Other Passive Activity:

1. Go to Input Return ⮕ Income ⮕ Rental/Other Passive Activities
2. Scroll down to the Expenses section.
3. Locate the Depreciation subsection.
4. Enter the amount in Section 179 carryover.

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From an Oil and Gas Set:

1. Go to Input Return ⮕ Income ⮕ Oil and Gas
2. Select Oil & Gas- Set Information
3. Click on the blue Details button for the applicable Oil and Gas set
4. Scroll down to the Overhead Depreciation and Amortization section
5. Enter the amount in the Section 179 carryover

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From an Oil and Gas Property:

1. Go to Input Return ⮕ Income ⮕ Oil and Gas
2. Select Oil & Gas - Property Information
3. Click on the blue Details button for the applicable Oil and Gas property
4. Scroll down to the Depreciation and Amortization section
5. Enter the amount in the Section 179 carryover input

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