I have a section 179 Carryover from last year. I added assets to a rental property. This is a short term fully furnished beach front rental. It rents weekly. I replaced the AC unit, added appliances and bought new master bedroom furniture and mattresses in 2022, I listed these as assets and then chose I'll deduct the full value and take the 179 deductions. Now on the 2023 taxes, I see an error message that reads "section 179 carryforward-Reg should not be entered, because this rental property is not a commercial property".
Turbo Tax CPA told me I needed to amend 2022 Taxes and depreciate over years versus the SEC 179. So, my question is: How will I know when I can properly file my 2023 taxes using the desk top software, so that the carry forward is eliminated, and the proper depreciation amounts are listed for the assets that created the carry forward error?
I owe taxes so; I need to know how much to pay?
I really wish Turbo Tax had said "HEY, don't use Sec 179 as the carry forward created will not be valid on this rental property next year".
