ProConnect HelpIntuit HelpIntuit

Entering Section 179 Carryover in the Corporate Module of Lacerte

by Lacerte Tax 2023 Updated 3 months ago

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

Lacerte will automatically carryover any disallowed Section 179 from the prior year. However, if the prior year return was not prepared in Lacerte the input screen 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 Screen 20, Deductions.
  2. Scroll down to the Depreciation subsection.
  3. Enter the amount in Section 179 carryover.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

Form 1125-A, Cost of Goods Sold:

  1. Go to Screen 14, Cost of Goods Sold.
  2. Locate the Depreciation subsection.
  3. Enter the amount in Section 179 carryover.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

From a Passthrough K-1:

  1. Go to Screen 16, Schedule K-1.
  2. Scroll down to the Deductions section.
  3. Enter the amount in Section 179 carryover.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

From a Farm Activity:

  1. Go to Screen 17, Farm Activities.
  2. Scroll down to the Farm Expenses section.
  3. Locate the Depreciation subsection.
  4. Enter the amount in Section 179 carryover.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

From a Rental/Other Passive Activity:

  1. Go to Screen 18, Rental/Other Passive Activities.
  2. Scroll down to the Expenses section.
  3. Locate the Depr. subsection.
  4. Enter the amount in Section 179 carryover.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

From an Oil and Gas Set:

  1. Go to Screen 19, Oil and Gas.
  2. Click on the Set from the left navigation panel.
  3. Locate the Overhead Depreciation and Amortization subsection.
  4. Enter the amount in Section 179 carryover.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

From an Oil and Gas Property:

  1. Go to Screen 19, Oil and Gas.
  2. Click on the Property from the left navigation panel. (This will take you to Screen 19.2.)
  3. Scroll down to the Depreciation and Amortization subsection
  4. Enter the amount in Section 179 carryover.

Back to Table of ContentsPCG_ASSET_spacer_11px.pngA black and white photo of a street light.

Lacerte Tax

Sign in now for personalized help

Ask questions, get answers, and join our large community of Intuit Accountants users.

More like this

Dynamic AdsDynamic Ads