Form 8829 incorrect calculation
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277235
Returning Member

Form 8829 incorrect calculation

On Form 8829:

39    42,000

40    15,931

41     3.1747%

42    10, 334

LINE 42 should be 506

This is apparently a BUG. How do I change this on the form?  I can not access the actual form (all instructions to access the form  that I've read on this site do not work).

10 Replies
JoannaB2
Expert Alumni

Form 8829 incorrect calculation

No, you can't change the form.  The amount is computed based on the figure entered starting on 37 up to 41 to come up with the total allowable depreciation on line 42. .The form 8829 is used to compute expenses for business use of home. The allowabe expenses will be transferred over as business deduction on form Schedule C line 30.The amount of depreciation is computed by multiplying the basis of the building by the percentage of the area of the home used for business

  • Line 37 -  cost basis of the home.
  • Line 38  - value of the land..
  • Line 39 -  basis of the building (cost basis of building - value of land).
  • Line 40 -  Business basis of the building (line 39 x business percentage of the area used for business (are used for business over total area of the home).
  • Line 41 -  business percentage. See screenshot below.
  • Line 42 - allowable deprecation entered on line 30 of form 8829.

 

 

 

277235
Returning Member

Form 8829 incorrect calculation

Thank you for the reply, but the screen shot has little to do with my problem.  The calculation done by the program is wrong.  Last year's return calculated the lines correctly, based on the percentage on line 41(3.1747%); this year's, with same data in lines 37-41, has totally screwed it up.  3.1747% times 15.931 on line 40 can not be 10, 334 on line 42!  I can not file a tax return with this ridiculous number.  Why can't I change the amount on the form itself?

ColeenD3
Employee Tax Expert

Form 8829 incorrect calculation

If you use Desktop, you might be able to change it. Please see this LINK.

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277235
Returning Member

Form 8829 incorrect calculation

Thank you for your reply.  I had seen that post that you linked but it offers no solution, just to wait for a bug fix - it's been 3 weeks ... I am using the desktop version of Home & Business ...

JimboHan
New Member

Form 8829 incorrect calculation

I have the same problem

line 37 shows only one of three asset entry (home office and 2 remodels) 

There is a box after line 37 description (Enter smaller homes adjusted basis or fair market value) marked "Explain" which, after click on it, shows the correct value to have in line 37 except the program picks only one of three to put into line 37. Its choosing the one marked 'home office'--

You can play with the numbers by changing "M-home office" to "N-Home office improvement". However the figure in the "Explain" box remains the same and is correct.

For now I must override the computed results into the correct figures causing an "error" in the program............ 

What is the program solution for this please, at least we have an extra month for Turbotax to get this right.

277235
Returning Member

Form 8829 incorrect calculation

I have no idea what the problem is, but I have a similar one.  For line 42, the program incorrectly calculated the "multiply line 40 by line 41", giving a result that was more than 20 times the correct answer. After talking with a techie on the phone, I learned about the "overide" procedure - which fixed the problem BUT now the program flags an error for line 42 (even though it is now correct!),  As a result, I supposedly can not file electronically because the error would be flagged - so it's back to snail-mailing my return for the first time in many years.  I am NOT impressed - similar problems have been reported for over a month.  I can only imagine the nightmare of trying to fix this bug ...

Cass0317
Intuit Alumni

Form 8829 incorrect calculation

Form 8829 is 'Unsupported for Efile.' it is only available for print. Click this link for California forms

@277235

 

277235
Returning Member

Form 8829 incorrect calculation

I have nothing to do with California, and I have filed my Form 8829 electronically for years.

LWAZ
New Member

Form 8829 incorrect calculation

I'm having the same problem where the amount calculated for line 42 is not the product of line 40 times line 41. Line 41 shows 2.5641% but the software is multiplying line 40 times 3.3287%. Is Intuit going to fix this before the May 17 filing deadline?

277235
Returning Member

Form 8829 incorrect calculation

HA!  This has been known for over 7 weeks and to date, as far as I know, NOTHING HAS BEEN DONE BY TURBOTAX.  I was able to override the amount on line 42 after I talked with  an actual TurboTax techie.  Upon doing that, everything worked, except the program continues to flag THE PROGRAM's INCORRECT ANSWER as "correct" and my override as an "error".  Now I have to file via snail mail because (supposedly) an e-filed return that has had an override may not be accepted. Had I not really checked my return, I would have sent in a GROSSLY INCORRECT return.  The "answers" supplied via this forum have been either worthless or very incorrect (see thread).  On my Mac running Catalina, to override, go to forms mode, select the line to override, then go to Edit in the menu bar and select "override".  Voila!

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