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Section 179 - Turbo Tax flags Section 179 limit of $25000
Hi,
I completed my federal and California tax but Turbo Tax keeps flagging that my Section 179 total elected cost exceed $25000 for form 3885A Worksheet line 8 . I believe that's an incorrect flag as I'm way within the federal limit on form 4562 and if it's larger than $25000, form 3885A worksheet line 9 is to take the smaller value between line 5 and line 8 which would be $25000.
Am I incorrect or is there a bug in Turbo Tax 2023?
I'm stuck now because Turbo won't e-file because of the above.
Please help.
Thanks
Daniel
Topics:
‎February 15, 2024
10:31 PM