If an individual receives multiple K-1s with section 179 expense and the total of the 4 is greater than $25,000, does lacerte proforma that carryover to the next year or do I have to enter that carryover manually in the next year's program?
Thanks.
As with all carryovers via proforma, assume Lacerte does it right, but follow up with a manual verification. e.g. http://community.intuit.com/po...; You should get a hint as to what it will be doing by looking at the General Info tab in Forms.
State K-1 reconciliation to federal shows the excess 179 as a passive limitation not allowed this year but the general info page does not show a carryover. That was why I had the question. Seems like if it calculates that it is limited this year that it would proforma like the passive and basis carryovers but it isn't showing up like they do.
