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Level 2
March 9, 2022
Question

Form 4562 Line 12

  • March 9, 2022
  • 1 reply
  • 0 views

The error-locating portion of turbo tax is telling me that I need to reallocate the section 179 expense deduction as I have exceeded the maximum allowable. It is pointing me to Line 12 on that schedule but will not allow me to delete the previous number and enter a new number. How do I fix this? Thank you!

    1 reply

    MaryK4
    Level 15
    March 9, 2022

    You will have to go back to the Asset Entry part (usually in Business Expenses or Rental Income) to make the correction.  

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    2TrickyAuthor
    Level 2
    March 9, 2022

    Thank you so much!!