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Federal input screens

Screen OthAsset - Additional Depreciation and Sale Information (990)

Form 4562 - Section 179, Other

Maximum dollar limit (Force)
This box overrides the section 179 expense deduction on Form 4562. If this is blank, the current-year maximum dollar limitation on Form 4562, Part I is used.
Total cost of Section 179 property placed in service this year (Force)
If you use the asset module, the form 4562 displays in this box the total cost of section 179 property placed in service this year. The asset module makes certain assumptions regarding which assets to include in the total cost of section 179 property.
Taxable income limit/business income limitation (Force)
This box overrides the taxable income limitation that calculates the section 179 expense deduction on Form 4562. You can enter zero (
0
). If this is blank, the client’s calculated taxable income is used.
Assign Section 179 carryover
Enter information to specify the 179 carryover allocable to line 22b or 28 of Form 990T.
Section 263A basis portion
For assets placed in service in the current year, enter the portion of the basis attributable to the section 263A costs.

Bonus Depreciation Elections

These boxes complete when you select the elections for the property class life in the asset module.
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