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drbaum
Level 1

How do I reduce Line 8 on State Section 179 Dollar Limitation? It exceeds the NJ state dollar limit. I am a sole LLC. Thanks in advance.

 
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drbaum
Level 1

How do I reduce Line 8 on State Section 179 Dollar Limitation? It exceeds the NJ state dollar limit. I am a sole LLC. Thanks in advance.

I talked with Turbo Tax support and here's the solution:  On the form Depreciation Options, State Depreciation, the two first two lines under State, "delete this state's depreciation data...", should be marked as Yes.  It then automatically changes line 8 to the state dollar limit specified in line 7.  It's counter intuitive but that's the solution.

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drbaum
Level 1

How do I reduce Line 8 on State Section 179 Dollar Limitation? It exceeds the NJ state dollar limit. I am a sole LLC. Thanks in advance.

I talked with Turbo Tax support and here's the solution:  On the form Depreciation Options, State Depreciation, the two first two lines under State, "delete this state's depreciation data...", should be marked as Yes.  It then automatically changes line 8 to the state dollar limit specified in line 7.  It's counter intuitive but that's the solution.

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