topic Economic Stimulus - Qualified Property checkbox in Federal Asset Entry Worksheet, wasn't transferred from 2023 to 2024 in Get your taxes done using TurboTax

Economic Stimulus - Qualified Property checkbox in Federal Asset Entry Worksheet, wasn't transferred from 2023 to 2024

xjmo — Sun, 23 Feb 2025 19:03:06 GMT

This is on TT business edition to create Form 1065 for partnership.

I used to use TT business to create tax return Form 1065. For 2024 I transferred data from 2023 file. This will be the final report and I disposed the properties. At Federal Review\Error check, there were many errors on Federal Asset Entry Worksheet starting with the checkbox "Economic Stimulus - Qualified Property" because neither "Yes" nor "No" was checked.

When I compared the Federal Asset Entry Worksheet in 2023, I saw the checkbox was checked with "Yes". Please refer to the attached screenshots.

This seems to be data migration issue. But how do I fix the errors?

Re: Economic Stimulus - Qualified Property checkbox in Federal Asset Entry Worksheet, wasn't tran...

MarilynG1 — Sun, 23 Feb 2025 20:57:13 GMT

This could be a data migration error, as you mention. Or, you may want to review any entries pertaining to this asset in your return.

Can you check the Yes box directly on the Federal Asset Entry Worksheet in FORMS mode?

Qualified property for Economic Stimulus is property that qualifies for special depreciation deductions (Section 179 and Bonus Depreciation).

Please keep in mind that to qualify for the Section 179 Deduction, the equipment listed below must be purchased and put into use between January 1 and December 31 of the tax year you are claiming.

Equipment (machines, etc.) purchased for business use
Tangible personal property used in business
Business Vehicles with a gross vehicle weight in excess of 6,000 lbs (Section 179 Vehicle Deductions)
Computers
Computer "Off-the-Shelf" Software
Office Furniture
Office Equipment
Property attached to your building that is not a structural component of the building (i.e.: a printing press, large manufacturing tools and equipment)
Partial Business Use (equipment that is purchased for business use and personal use: generally, your deduction will be based on the percentage of time you use the equipment for business purposes).

@Xxjmonstercxx

Re: Economic Stimulus - Qualified Property checkbox in Federal Asset Entry Worksheet, wasn't tran...

xjmo — Mon, 24 Feb 2025 00:22:17 GMT

Thank you!

I tried to check the Yes box on the Federal Asset Entry Worksheet, as suggested. That resolved many related errors. But there was still one error at California Asset Entry Worksheet, "565 Depr Opt -- Asset Entry Worksheet: Prior Depr, Rglr Tax must be entered. If none, enter zero."

These values were empty in 2023. But in 2022 Rglr Tax was $719 and AMT was $679. How to resolve the error?

Re: Economic Stimulus - Qualified Property checkbox in Federal Asset Entry Worksheet, wasn't tran...

xjmo — Mon, 24 Feb 2025 00:25:15 GMT

Attached screenshots.

Re: Economic Stimulus - Qualified Property checkbox in Federal Asset Entry Worksheet, wasn't tran...

AmyC — Tue, 25 Feb 2025 16:20:31 GMT

Those pink boxes are data entry points for this worksheet. You can enter the number directly into the box.

For future reference, whenever you see the plus sign next to a box you select, it is a box you can type into directly.

If you need to know where a number is coming from, you can right click and select data source.

Re: Economic Stimulus - Qualified Property checkbox in Federal Asset Entry Worksheet, wasn't transferred from 2023 to 2024

tenamoon59 — Tue, 24 Mar 2026 23:44:41 GMT

I don't understand this what it is I don't have no business

Re: Economic Stimulus - Qualified Property checkbox in Federal Asset Entry Worksheet, wasn't tran...

DaveF1006 — Tue, 24 Mar 2026 23:57:32 GMT

You can skip the “Economic Stimulus – Qualified Property” checkbox if you don’t have a business or any business assets. It shows up because TurboTax may carry over old asset worksheets, even if they’re not relevant anymore. You may, however delete these worksheets if they exist in your return.

Option 1 — Delete the Asset Worksheet (Best if you have no business assets)

Switch to Forms Mode (TurboTax Desktop).
Look for Federal Asset Entry Worksheet in the left panel.
Open it.
Click Delete Form at the bottom.
Repeat if there are multiple asset worksheets.
Also look for Depreciation Report,

This removes the business asset entirely—exactly what you want if you don’t have a business.

If using online, go to:

Click Tax Tools
Click Tools
Choose Delete a form.
Federal Asset Entry Worksheet
Asset Entry Wks
Depreciation Report
Or anything under Schedule C if you don’t have a business

@tenamoon59