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Visitor I

unused section 179 from 2016

Hello,

Turbo Tax stated that we could use $67,800 of our business vehicle cost for section 179.  However, we chose to only use $20K in 2016 because we thought we could utilize the remaining amount for 2017, but we can't.  We want to amend the 2016 return to include all of the cost in section 179 and create a Loss Carryforward to 2017.  Upon amending the 2016 return, in Turbo Tax, we went from a $7K business loss to a $700 business profit.  Also, in the original 2016 return, the business vehicle expense was $52K and upon amending 2016 return the vehicle expense change to $44K; with still no loss carryforward. 

Any ideas???