Form 4562 (Not Done)

Anonymous · ‎January 20, 2020

I know that there's no direct entry into 4562. I'm entering Section 179 deduction off a schedule k-1 - it's carryover from 2018.

As far as I know I entered all the right information but 4562 line 10 shows 0 and Line 12 is 0 (with red box). I read in other posts that maybe that is Turbo Tax is not ready. But how do I know whether it's not ready or if I've done something wrong?

MarilynG1 · ‎January 22, 2020

When you run the Federal Review, TurboTax tells you if any of your forms are not ready. Form 4562 is not one of them at this time.

If you have a Sec. 179 Carryover amount from 2018, type 'Schedule C' in the Search area, then 'Jump to Schedule C'.

EDIT your business, and Continue. On the Business Summary page, click on EDIT for 'Other (or Uncommon) Situations'.

Check 'I have unused Section 179 expenses..'

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Anonymous · ‎January 22, 2020

That is helpful, thanks! It's too bad I have to step through the Federal Review to get to that page - would be nice to have an easier/quicker place/button to let us know that summary.

Also to slightly rant... after Updating Turbotax, clicking on More Details to find out what forms are needed - it takes me to this page: https://ttlc.intuit.com/articles/4784576 which states support has moved and redirect doesn't take me to a page that shows me what's updated.

That's programming 101... how can someone get Intuit to fix this?

Form 4562 (Not Done)