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02/05/09 5:15pm PST
Viewed by asker 02/22/09 9:30am PST

M-2 adj for disallowed Sec 179 deduction.

Lacerte

Partnership M-2. I have Sec 179 Depr that is disallowed, therefore not on Sch K, but showing on line 7. Therefore, my book income is not correct. It is adding something which was not subtracted in the beginning. Help

1 Reply

Accountant Community AllStar

Intuit Moderator

Accountant Community AllStar

02/05/09 5:55pm PST

Latest post

Yeah, I know what you mean. I do book Sec 179, even if carried forward as disallowed, because it's easier to make the books match Lacerte than to make Lacerte match the books. In the year it frees up, you've got a reversing M-2.

If I wanted phone calls, my phone number would be in my profile. If you have a question, post it in the applicable forum.

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