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Turbo Tax is telling me that I am waiting on a form: Depreciation for Schedule C. However, I do not/am not depreciating anything in my return. How do I clear this out?

 
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Turbo Tax is telling me that I am waiting on a form: Depreciation for Schedule C. However, I do not/am not depreciating anything in my return. How do I clear this out?

If you entered any assets this year and took the 179 deduction  OR  has any assets being depreciated  from a prior year return then you do need the form so you will need to wait. 

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4 Replies

Turbo Tax is telling me that I am waiting on a form: Depreciation for Schedule C. However, I do not/am not depreciating anything in my return. How do I clear this out?

If you entered any assets this year and took the 179 deduction  OR  has any assets being depreciated  from a prior year return then you do need the form so you will need to wait. 

maglib
Level 10

Turbo Tax is telling me that I am waiting on a form: Depreciation for Schedule C. However, I do not/am not depreciating anything in my return. How do I clear this out?

Do you have a business from a prior year? to remove those assets from your return you must close any old business as the IRS assumes you are still open until you dispose of all assets...
**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
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I am NOT an expert and you should confirm with a tax expert.

Turbo Tax is telling me that I am waiting on a form: Depreciation for Schedule C. However, I do not/am not depreciating anything in my return. How do I clear this out?

It must be from a previous year, then. I'll look back and see how I entered in everything for the last year or so. Thank you.
maglib
Level 10

Turbo Tax is telling me that I am waiting on a form: Depreciation for Schedule C. However, I do not/am not depreciating anything in my return. How do I clear this out?

Close your old business are marked the Schedule C as "Final".
Click on Business Income and Expenses (I'll Choose What to Work On)
Start/Update - Profit or Loss from Business
Three or four screens in is "Tell us about your business"
Check the Box "I sold (or disposed of) my business in 2017 and you will have to say how your assets were sold or disposed of.
**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer"
I am NOT an expert and you should confirm with a tax expert.

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