topic Form 4562 Special Depreciation Allowance Error in Deductions & credits

Form 4562 Special Depreciation Allowance Error

klj102471 — Fri, 27 Feb 2026 14:55:08 GMT

After installing the 2/27/26 updates to TurboTax Business, I still have 2 assets flagged as not eligible for Special Depreciation (2 vehicles placed in service in 2004!). Please provide a work-around, as I cannot wait another week to find out whether or not another update will fix the problem. PLEASE HELP!

Re: Form 4562 Special Depreciation Allowance Error

CatinaT1 — Fri, 27 Feb 2026 18:25:06 GMT

If you are using desktop software you may need to do a manual update. Try clearing your Cache and Cookies and then try this link instructions.

If you are using the online software, Clear Cache and Cookies.

Re: Form 4562 Special Depreciation Allowance Error

klj102471 — Fri, 27 Feb 2026 18:46:37 GMT

That link is wanting me to delete the program I already have installed and re-install the 2025TurboTax program. Are you saying that's what needs to be done?

Re: Form 4562 Special Depreciation Allowance Error

PatriciaV — Mon, 02 Mar 2026 20:28:10 GMT

The manual update suggested by CatinaT1 will not delete or change your tax return/information. While it does uninstall and reinstall the TurboTax software, the update utility will ensure that you have the latest version of TurboTax Desktop.

It might be helpful if you provided a screenshot of the error messages you are seeing with regards to Special Depreciation. Some issues have been resolved but others have cropped up after the last update.

Re: Form 4562 Special Depreciation Allowance Error

klj102471 — Wed, 04 Mar 2026 15:51:05 GMT

@PatriciaV and @CatinaT1

I continue to have two assets with errors on the Form 4562 after clearing the cache and following the instructions. To be clear, I originally had errors on 43 assets. When I installed the 2/13/26 TurboTax updates, all but two errors were resolved. None of the subsequent TurboTax updates have resolved these two errors. I am including screenshots of the error for one of the assets (step-by-step and form). Both assets are vehicles placed into service in 2004.

Re: Form 4562 Special Depreciation Allowance Error

PatriciaV — Thu, 05 Mar 2026 23:10:33 GMT

We would like to research this experience in TurboTax Business. It would be helpful to have a TurboTax ".tax2025" file that is experiencing this issue. You can send us a “diagnostic” file that has your “numbers” but not your personal information. If you would like to do this, here are the instructions:

Open your return and go to Online in the top menu, then choose "Send Tax File to Agent."
You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number.
Reply to this thread with a screenshot of your Token number (this avoids Community filters for numbers with a dash) and tag (@) the Expert requesting the token from you.
Please include any States that are part of your return - this is VERY important.

We will attempt to determine the cause of your experience and possibly provide you with a resolution.

Re: Form 4562 Special Depreciation Allowance Error

klj102471 — Fri, 06 Mar 2026 17:20:20 GMT

@PatriciaV I appreciate your assistance! I sent the diagnostic file. Attached is a screenshot of my Token number. I am completing an Illinois return also.

Re: Form 4562 Special Depreciation Allowance Error

PatriciaV — Sun, 08 Mar 2026 16:52:43 GMT

Thank you for the token. We are looking into the issue and will respond as soon as we have information to share.

Re: Form 4562 Special Depreciation Allowance Error

klj102471 — Fri, 13 Mar 2026 13:46:30 GMT

@PatriciaV

My S-Corp return is supposed to be filed this Monday, 3/16/26. The TT updates released last night (3/12/26) did not resolve the two errors. Do you have any suggestion how to handle the filing?

Re: Form 4562 Special Depreciation Allowance Error

PatriciaV — Sun, 15 Mar 2026 15:16:37 GMT

If recent updates did not resolve the form errors involving Special Depreciation, your best option may be to request an extension of time to file. This is fairly common for business returns. Once the issue is resolved, you can complete and file your return. Be sure to notify your partners/members of the delay in providing Schedules K-1.

To create Form 7004 Extension Request in TurboTax Business, go to Federal Taxes >> Other >> Continue to "Need more time to file?" and answer Yes. Then follow the interview to complete the form, which needs to be printed and mailed.