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Level 2
February 23, 2021
Solved

Form 8829 incorrect calculation

  • February 23, 2021
  • 2 replies
  • 0 views

Line 40 Business basic of building = 41,249

Line 41 Depreciation percentage = 3.1747%

Line 42 SHOULD BE 1,309, just like 2019's return.  However, Line 42 shows 26,756, causing lines 30 and 44 to be incorrect also.  I tried to change the entries on the form itself, but appears to be blocked.  This appears to be a calculation error in the application.  Please advise if a future update will correct.

    Best answer by black60806

    Intuit confirms my suspicions...it is a bug.  I was able to manually correct on the forms.  There will be a fix for this upcoming.

    2 replies

    Level 15
    February 23, 2021

    Did you add any improvements to be depreciated ($25,000-ish of business Basis)?

    black60806AuthorAnswer
    Level 2
    February 27, 2021

    Intuit confirms my suspicions...it is a bug.  I was able to manually correct on the forms.  There will be a fix for this upcoming.

    Level 2
    March 18, 2021

    How did you manage to correct it on the forms?  I can't access mine (using Turbotax for Home & Business on a Mac)

    Level 2
    March 21, 2021

    Go to the Forms view, then navigate to the form/field to override.  Perform a Ctrl-D.  That should allow you to change the information in that field.