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Sec. 179 - Asset Entry Worksheet Issue
I am getting a confusing error message when TT does its final check before e-file.
I own a rental property in MD. In 2021, I took an $1800 Sec. 179 depreciation expense. MD is decoupled from federal 179 limits ($25K annual ceiling) which I'm obviously way under that limit.
Here is the error message I'm getting: "Schedule E Worksheet -- Asset Entry Worksheet (Electrical Panel): State Section 179 (MD) should be blank. MDOnly rental activities identified as commercial property qualify for a Section 179 deduction. This applies to asset types A, B, D, E, F, G and H."
Why would this be left blank? I have an allowable 179 exp. at the state level.
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March 10, 2022
10:46 AM