I keep getting this error when trying to complete my California State Tax Return through Turbotax. My federal return check comes back fine with no errors.
When I run my state check it says: Depreciation allowed or allowable is too large. Depreciation allowed or allowable is 1420.00.
I am not sure where they are coming up with this number.
Here is what I have entered into my federal return.
Bought my car for business use in 2021 for 75,703. My 2022-2023 business use percent is 41.17%. I sold this car 09/2023 for 42,000.00. The previous year I used the standard mileage deduction. This year I am using actual expenses. My business portion "sale price" is: 17,287.00. When I get to the section that asks for the the basis for gain/loss I left it blank because it says " if you got this vehicle by trading in listed property, that you used less than 100% of the time for business, enter your gain or loss basis. If this doesn't apply to you leave these fields blank. I bought this car new.
I left them blank because I did not trade in the car. I sold it. It states my loss on the disposition is 9845.00.
I can then click through the rest of my return and it doesn't give me any errors.
Then when I run my State Return check it gives me the above named error. When I go to the California Car and Truck worksheet it has the figures in there for my depreciable basis is 31,167, and my AMT depreciable basis is 31,167.00.
I have called Turbotax for the "expert help" and 3 different reps and a so called CPA couldn't help me and tell me what I was doing wrong or entering in the wrong place.
Any help is much appreciated!!
