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Investors & landlords
Any fix coming or workaround for this? Turbotax will not let me proceed with e-filing due to this issue.
But I could not find any way to modify this to get the section 179 carryover to work and show up in the depreciation total for this year.
This arose from a a section 179 deduction on a residential rental property from 2021 that was partially disallowed due to the property being purchased mid year, and therefor only the prorated amount of the full deduction was allowed in 2021. So there was carryover for 2022, but TT thinks this is an error "Sec 179 Carryforward-Reg should not be entered, because this rental property is not a commercial property", even though TT autopopulated (I believe correctly) the "Section 179 carryover" field in the 2022 "Carryovers to 2022 Smart Worksheet"
Clearly this can't be true if the deduction was allowed int he first place. Obviously I'm not going to just zero out the carrryover to remove the error. I tried shifting it to the passive loss carryover entry, but that causes the net taxes for 2022 to come out differently, and the carryover is not added to the depreciation total for that property.
It seems like a bug to me. The final forms seems to come out correctly as long as I leave the entry as-is, so I wouldn't care, except it is preventing me from e-filing. Every time I hit "Transmit Returns Now" it just loops me back to the review screen asking me to fix the errors.