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Level 1
posted Jan 30, 2024 1:26:36 PM

Form 7205, titled "Energy Efficient Commercial Buildings Deduction,"

I replaced most of the lighting in my retail space with high efficiency lighting and wanted to know if I would qualify for the form 7205 (EECBP) deduction under section 179D or would I have to replace more equipment?

 

Jake

0 21 3728
1 Best answer
Expert Alumni
Jan 31, 2024 10:23:31 AM

Form 7205 is used to calculate the sec 179d deduction as explained here, in the purpose of the form.

21 Replies
Expert Alumni
Jan 31, 2024 10:23:31 AM

Form 7205 is used to calculate the sec 179d deduction as explained here, in the purpose of the form.

Level 1
Feb 23, 2024 12:41:19 PM

How can I stop/remove form 7205. I have no commercial building depreciation. Why does turbo tax business ask me for this form when I try to efile

New Member
Feb 24, 2024 2:18:36 PM

Same here. I have this and Nowhere in the Q & A did I mention anything about this deduction it is the one thing stopping me from filing please advise.

Expert Alumni
Feb 24, 2024 4:54:36 PM

Users encountering this situation have found this solution works when using TurboTax Home and Business:

 

In Business Expenses, under Other Common Business Expenses, . On that list, you will find "Energy Efficient Buildings". Select Update and delete the 0 amount or other amount that appears. 

 

This is done in the "step by step" view of Turbo Tax, NOT in the Forms view.

 

@Sherman Inspection 

 

Level 1
Feb 24, 2024 6:39:28 PM

For TurboTax Desktop Business programs this resolves the issue:
Go to Deductions>Common Business Expenses
Click "Update"
Look in the list for "Energy Efficient Buildings"
Delete the "0" and Leave Blank

Click Done with Deductions and

Continue to Efile

New Member
Feb 26, 2024 5:02:35 PM

Thank you!  To be clear, you have to leave the space EMPTY.  Do not fill in a ZERO

Level 1
Feb 28, 2024 10:53:30 AM

I have the same dilemma.  This is the only error on my taxes and do not need this form or deduction. How do I correct this?!

Expert Alumni
Feb 28, 2024 11:12:35 AM

Let's try to delete the form.  The instructions below are for desktop with a link for Online.

 

The best way, and often the only way, to delete income forms (including forms W-2, 1098, 1099, and K-1) is to do it from the summary screen for that particular form.

So, try that first — here's how:

  1. Open or continue your return.
  2. Go to the Search bar and search for the form by typing the form name (for example, W-2 or 1099-Misc).
  3. Select the Jump to link with the form name.
  4. Then, see if that takes you to a summary screen.
    • If searching for a W-2, for example, typing W-2 in the search bar and selecting the Jump to link in the search results takes you to the Your W-2 info so far screen.
    • You can remove the W-2 on this screen by selecting the trash icon.

How do I delete other tax forms or schedules?

While it's OK to delete blank, duplicate, or irrelevant forms, we don't recommend deleting valid forms or schedules, for example nonfinal forms or forms that won't let you e-file. Understand that deleting a form or schedule may create new, unforeseen problems before proceeding.

Also, if you need to remove a business that transferred over from your prior-year return, don't just delete Schedule C. Instead, remove the business.

Windows instructions

  1. Open or continue your return.
  2. Switch to Forms Mode by selecting the Forms icon.
  3. From the menu, select the form you want to remove.
  4. After the form is generated in the right pane, select the Delete Form button.
  5. Follow any onscreen instructions to remove the form or forms.

Mac instructions

  1. Open or continue your return.
  2. Switch to Forms Mode by selecting the Forms icon.
  3. From the menu, select the form you want to remove (if you don't see it, select Open Form at the top).
  4. From the Forms menu, select Remove [form name].
  5. Follow any onscreen instructions to remove the form or forms.

Related Information:

 

@jcbwtaxes2018 

Level 2
Feb 29, 2024 5:07:46 PM

I came here to read the replies. I figured out you can just override the error.

 

Open the form and then go to Edit/Override in the tool bar of TT Deluxe.  highlight the red zero in the form and delete it.  then run smart check again.  worked great.  now i ca nefile.

 

 

Level 2
Mar 1, 2024 1:00:30 PM

I take it that using "Override" is just a temporary fix to delete the zero on this dang form?

Level 2
Mar 2, 2024 5:31:18 AM

yeah.  Either TT hasn't finalized the form 7205 or ?  I'll wait a little bit to see if they update the program.  For now, that's what I did to be able to efile if needed.  I'm not taking the credit nor the home office deduction so I assume it shouldn't affect anything.

Level 2
Mar 2, 2024 9:48:41 AM

Oh, they finalized it all right...  They just want you to shell out another $40 for Home & Business... I'm like you, just the minimal on my part-time little business and EECBD?  That's a joke, just like solar panels and cruddy batteries...

Level 15
Mar 2, 2024 9:53:07 AM

@mmarteen61 There is no need to upgrade to Home & Business.  All the TurboTax desktop editions include the same forms, schedules and worksheets.

The program you are using May recommend you upgrade to Home & Business but that is a recommendation only, it is NOT Required.

Level 1
Apr 2, 2024 10:13:21 AM

Is this TurboTax bug?  So far, I've got the most updated version of "Home & Business", but I'm stuck by this "Energy Efficient Commercial Buildings Deduction" For 7205 issue.  If my business doesn't use this deduction, why the "review check" points out that I need to mail Form 7205 to IRS separately?

Level 2
Apr 2, 2024 4:50:26 PM

i just override that entry and all is good.  already sent and pay my bill

Level 2
Apr 3, 2024 9:08:06 AM

Ditto...  Another year down the toilet...

New Member
Apr 9, 2024 9:08:57 PM

Thank you. Thank you! This solution worked. You saved me! 

Level 2
Apr 10, 2024 4:27:26 AM

glad it worked for you.

New Member
Apr 15, 2024 5:01:35 AM

Thank you so much!  This was a new one for me this year (2024 for 2023) and am so grateful I did not have to spend an hour on hold with TT to figure out why this was happening!  Your answer was simple and precise and I was able to fix the issue quickly.  Thank you!

Level 2
Apr 15, 2024 8:29:05 AM

Welcome 

New Member
Apr 15, 2024 8:55:27 PM

Thank you!