Thank you so much Champ! I really appreciate your help. So there are 350 entries that need additional info on form 4562. They range from my first entry in my depreciation and amortization schedule of a piece of equipment in 2012 with a life of 7 years that has been fully depreciated so the accumulated value is equal to the initial cost...to equipment that still depreciable value on it placed into service last year. The errors are as follows:
-"AMT Special Depr Allo. must be entered" - Even for fully depreciated assets.
- With assets that still have depreciation value, it is first asking me for ""Special Depr Allowance must be entered" then followed by another error for the same asset "AMT Special Depr Allow. must be entered"
-"Elect out Special Ded should be blank" - Even for fully depreciated assets
These are 90% the same assets I had on form 4562 last year and none of these errors came up and I did not change anything on the entries that now have errors.
Thanks again a ton, can't tell you how much your help is valued!
