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179 Expenses


Terry D EA

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Yes, business income limitation is filled in with the proper calculated amount. When I look at the Federal Worksheets, the total amount of the 179 elected cost shows correctly. Nothing is getting placed on the 4562. The entire section I is blank. I have worked with this so much my eyes have crossed back and forth 15 times. I even overrode the business income limitation to a lesser and high number and still nothing flows.

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I played around a bit with it and found that the active participation must be checked on the Sch C for it to carry from the 4562.  Had no problem getting it onto the 4562 however.  Hopefully OLT Pro will be able to help you on Monday.  Until then I would just go over the input for both of the forms slowly, line by line, and be sure everything is checked that should be.  That is where I find most of my problems.

 

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