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Enter section 179 expense for prior-year assets

When entering Section 179 expense that was taken in a prior year, you need to enter the expense in the Sec 179 expense
field and to include it in the amount entered in the Prior Depreciation
field.

For a prior-year asset with $1,000 of Section 179 and $1,800 of regular depreciation, you would enter:

$1,000 in the Sec 179 expense
field, and

$2,800 in the Prior Depreciation
field.

This article applies to:

Product: UltraTax CS
Return type: 1040 Individual,1120 Corporation,1065 Partnership,1041 Fiduciary,990 Exempt Organization
Subject: Depreciation

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