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Why does this message keep occuring? Schedule C (eBay sales) -- Asset Entry Worksheet (I Pad): Eligible Sec 179 property has an unacceptable value.

I put in a value for a computer( I pad ) purchase I use 50% of the time for my eBay selling and I keep getting the above message. I can’t correct it?
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2 Replies
JamesG1
Employee Tax Expert

Why does this message keep occuring? Schedule C (eBay sales) -- Asset Entry Worksheet (I Pad): Eligible Sec 179 property has an unacceptable value.

There are two issues which might be affecting the section 179 deduction on your tax return.  Both are discussed in this IRS publication.

 

Page 4 Line 5

 

If you are married filing separately, you and your spouse must allocate the dollar limitation for the tax year.

 

Page 4 Line 11 

 

The total cost you can deduct is limited to your taxable income from the active conduct of a trade or business during the year. You are considered to actively conduct a trade or business only if you meaningfully participate in its management or operations. A mere passive investor is not considered to actively conduct a trade or business.

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Why does this message keep occuring? Schedule C (eBay sales) -- Asset Entry Worksheet (I Pad): Eligible Sec 179 property has an unacceptable value.


@ajmd2002mark wrote:
 I use 50% of the time for my eBay selling 

 

You are not allowed to use Section 179 for an asset that is only used 50% for business.

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