I have a 45% partnership ownership of an LLC. The federal 179 deduction is around $50,000 on my k-1. The k-1 provided to me lists a California 179 deduction of $11,250 (45% of the California max $25,000).
I wasn't certain how to enter this in TurboTax, but as far as I could tell the best way was through line 12C, which resulted in $11,250 correctly being used in the calculations on the k-1 form 565.
However, after this change, I then have an error on form 3885A. It still lists $25,000 on lines 1, 5, 6, 8, 9, 11, and 12, and gives the error for line 12. "The total allowable section 179 shown here does not match the sum of the allowable section 179 deductions entered on each individual activity. Please review your entries for allowable section 179 on all activities." It is unclear to me that any changes can be made on this form or elsewhere to address this.
If I get rid of the 565 12c entry, so that the california 179 deduction reverts to $25,000, then 3885A is happy again with no error, but the k-1 calculations are incorrect.
Any way to deal with this?