How do I get an error in Turbo Tax business fixed?

You posted this under TurboTax "Business".  Is this a S-corporation?  Or a Partnership?

Partnership LLC

Partnership.   Is there a work around?  Is there deferred 179 section option some where?

If you had 179 Deductions that were disallowed in the prior year, click this link for info on How to Enter 179 Carryover Deduction. 

[Edited 1/18/2022 12:57 pm]

@MarilynG1 your link doesn't work; at least for me.

@micpot I have several questions / comments:

• The section 179 limitation is limited to business income at both the partnership level and partner level.
• When you indicate the section 179 was not allowed because of a loss, was that at the partnership level?
• If bullet 2 is "yes", then no section 179 should have been allocated out to the partners on their respective K-1.  The deduction is suspended (carried over).
• Was there income at the partnership level in 2020?
  • If "no", then your section 179 deduction is still suspended (carried over)
  • If "yes", then you should have included this on the 2020 form 1065 and K-1's
• Finally, is there income in 2021 at the partnership level?
• We need to understand the answers to the above before we can provide more clarity.

Link did not work for me either.  No income in 2019 or 2020.  Yes, income in 2021.  I don't think there was any mention of 179 carryover in 2020.  The program did not reference it, and I did not think about it.  Hopefully, it would not require amendment of 2020 return.

@micpot then you need to reflect the section 179 in your 2021 form 1065.

Unfortunately this is a windows only program and I am on a mac, so I don't know the logistics of getting this into the software.  However, I would have guessed this would have carried over; but maybe not.

Finally, was there sufficient income at the entity level to take all of the carried over section 179?

I will use a lifeline to see if this individual is able to provide some software help in this area.

@Anonymous_ 

Yes, I had enough income to offset the the $20000+ of section 179 deductions I need to claim.  It is a substantial amount.  Thanks for your help, BTW.

Perfect.  Hopefully my lifeline request will be able to provide some direction on the input of this carryover section 179.

Partnership 

You should be able to enter this carryover in Forms Mode (which I suspect is the easiest method).

Partnership 

All,  Found a place to enter carried over section 179 deduction at end of New Assets on the Sch. F., not in asset disposal section.  However, t is not clearing error checks because it is not on K-1 transferred from last year.  I hope this does not haunt me and keep from filing electronically.  I have had that problem on 1040 before.  Thanks to all for contributing.

As I feared, I cannot efile because return did not clear error checker.  Says form 4562 section 179 summary does not match either detail 199A Worksheet or incoming K-1 worksheet.  The 199A section II has the same amount as the 4562, so it has to be the 2020 K-1.  Was ready and willing to mail in return, but..  Oklahoma requires efiling and Turbo Tax refers me back to the same error to correct.  Is there a way to correct the 2020 K-1 without amending? Tried that, but 2021 TT Business keeps coming up.  Or, is there a way to paper file in OK, which I doubt.

Yes, you can paper file your OK return.  The OK Tax Commission has stated that if you e-file your return, the due for such return is  April 20, 2022.  Additionally, the OK Tax Commission has stated that if you paper file a return which reflects a refund, you will need to allow four to six weeks before checking on the status of that refund. 

Here is a link to the OK Tax Commission's Instructions for Resident returns which you might find helpful.

OK Tax Commission Instructions for Resident Income Tax Forms

These instructions are for filing individual tax return form 511.  I need to file form 514, Oklahoma Partnership Income Tax Return.  It clearly states at the top, electronic filing.