After reviewing the return: Turbotax reported these errors that need to be fixed:
1) Asset Entry Worksheet (Finished basement): Section 179 should be blank. A section 179 deduction is not allowed on real property.
This is question #7: Enter the amount of Sec 179 expense elected:
I see the total cost of the home office in basement here (~$6K)
2) Elect OUT of SDA should be blank. The asset is not Qualified Property for the Special Depreciation Allowance.
This is question #9.h.
I see Yes checked on this form.
3) Eligible Sec 179 property should not be checked YES. Only tangible personal property is eligible for the Section 179 deduction
This is question #42
I see Yes checked on this form.
4) Asset class is incorrect. The calculated value for Asset Class is the only valid choice based on Type of Asset selected. Override or delete entry in Asset Class to restore calculated value.
This is question #46
I see 25 years selected on this form (Don't know why or how TT selected 25).
