Sch F Losses not carried to 1040

[barosser]

TP has no W2 wages but 60000.00 in 1099R and SS. His Sch f loss is being limited to farm income and disallowed depreciation ($15021)being carried over to next year. The depreciation lowers as I put expenses in. Could I have somthing checked wrong?

[mdmcfarland]

Are you using section 179 on any of the assets on depreciation? You cannot cause a loss with section 179 property. You have to use standard depreciation only and then the loss is not limited by the farm income.

[lydia33]

Do you have materially participates marked yes?

[barosser]

Yes I have materiall participated checked, I did take 179 on a small piece of equip. I will take that off and see if that makes a difference. Wouldnt think so, I would understand that the 345.00 179 expense would carryover but not the regular depreciation.

thanks for the comments

[kcjenkins]

TP has no W2 wages but 60000.00 in 1099R and SS. His Sch f loss is being limited to farm income and disallowed depreciation ($15021)being carried over to next year. The depreciation lowers as I put expenses in. Could I have somthing checked wrong?

Any chance you accidentily checked the box at the bottom for at-risk limit?

[barosser]

Okay.. Materially Participate is checked yes, there is no 179 expense, and box 37a is not checked. The box will not let me put a x in the at risk box? He is a cash TP. If I change the box to accrual the it carries a loss to the 1040 line 18????

[zeke]

1. print "F"

2. delete "F"

3. update program & "F"

4. restore "F" to return.

5. input data again.

5. cross your fingers....

[barosser]

Thats what I was thinking but not wanting to do... thanks again for the guidance

[barosser]

Thats what I was thinking but not wanting to do... thanks again for the guidance