The IRS requires an election statement for this,but has not yet released the format of the election. When updated with the IRS election,this error message will go away.??

So Turbo Tax is waiting for an update from the IRS?? Any idea when this will be? Am I totally reading this wrong?

Help!

" You have elected 50 percent Special Depreciation Allowance instead of 100 percent-1 . The IRS requires an election statement for this, but has not yet released the format of the election. When the program has been updated with the IRS election, this error message will go away."

1055

1 Best answer

Intuit Alumni

Jun 6, 2019 8:45:17 AM

Yes, we are still waiting on the finalization of form 4562 from the IRS. They won't tell us 'when', so we have to wait.

Intuit Alumni

Jun 6, 2019 8:45:17 AM

Yes, we are still waiting on the finalization of form 4562 from the IRS. They won't tell us 'when', so we have to wait.

New Member

Jun 6, 2019 8:45:18 AM

Any idea on an estimated time frame?

Intuit Alumni

Jun 6, 2019 8:45:21 AM

Any day now; could be tomorrow, but they won't confirm any dates .

New Member

Jun 6, 2019 8:45:22 AM

I'm terrible at waiting. 😉
Thanks, Dawn.

New Member

Jun 6, 2019 8:45:24 AM

Ugh, I'm waiting for this too. Will it automatically show an update for desktop when the form is ready?

Intuit Alumni

Jun 6, 2019 8:45:25 AM

Yes, the desktop product will notify you that ''Updates are available'' whenever you open the program.

Level 1

Jun 6, 2019 8:45:27 AM

I'm waiting for this too. :(

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The IRS requires an election statement for this,but has not yet released the format of the election. When updated with the IRS election,this error message will go away.??