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Is there a way to change line 7 on form 4562? NJ allows for $25,000 of section 179 deduction. TTO gave me an error saying (line 8) cannot exceed line 7.

Line 7 is showing $12,500 but I have no idea where that number came from and I suspect it to be wrong/outdated.

Thanks in advance!
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Highlighted
New Member

Is there a way to change line 7 on form 4562? NJ allows for $25,000 of section 179 deduction. TTO gave me an error saying (line 8) cannot exceed line 7.

Any intuit employees feel like helping me out here? Tax day is rapidly approaching....


Maybe a different tax software that is up to date with better customer service is the fix here.