Smart Check flagged the value I input for fully depreciated appliances that are an asset for a rental house I sold in 2021. I obtained this value from the prior depreciation value of the appliances in 2020 and it’s equal to the original cost of the appliances and also the prior depreciation value listed on the 2020 AMT Depreciation Report.
The error message says the AMT prior depreciation is too large and that the depreciation cannot exceed the business basis. Checking the forms for this asset, the 2021 AMT depreciation value is also exactly equal to this fully depreciated value. Note that there is no place to enter the AMT depreciation on the Review Information interview screen and I forwarded through the rest of the interview for this asset and did not see any place to input AMT depreciation, so it's been automatically calculated by TT. Any idea why this flag is showing since the AMT depreciation number is equal to (not greater than) the cost basis?
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It's entirely possible this is a rounding error within TurboTax. You might reduce one or more of the numbers by a dollar or two and see if that resolves the SmartCheck flag.
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