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.??

[tknix0601]

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."

[DawnC0 · Accepted solution]

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.

[tknix0601]

Any idea on an estimated time frame?

[DawnC0]

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

[tknix0601]

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

[kenningar]

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

[DawnC0]

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

[dannyjones]

I'm waiting for this too. :(