Section 179 Carryover from 2022

[jhartle55]

On my 2023 tax return I get an error saying that the total Section 179 Carryover shown for 2022 does not match the sum of the Section 179 carryovers shown on each individual activity. It says to review my return and correct the carryovers on the individual activities so they add up to the total shown.

How and where do i do that in Turbo Tax? 

I checked my 2022 Tax return and the total is the same as noted on 2022.

I did not enter anything in 2023 since i took full deduction last year.

thanks for your help.

Joanne

[RobertB4444]

Did you remove any assets in 2022?  If the system is trying to carryover a 179 deduction for assets that are no longer in service that could cause a disconnect.

@jhartle55 

[jhartle1955]

I dont think I removed any assets in 2022.  Where in TT do I respond to this error to try and resolve?  Thank you.

[ThomasM125]

You would look on line 13 of your 2022 form 4562 (Depreciation schedule) to see what the section 179 depreciation carryover from 2022 was. Then, on the screen in your business entry area that says Your (name of company) Business, find the menu option that says Final Details and click on Special Situations. On the next screen you will see an option to enter your 2022 section 179 carryover amount. See if that number is the same as the carryover amount on the 2022 Form 4562, if not then enter the 2022 amount there.