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How do I clear a "Check this Entry for AMT dep allowed/allowable is too large"?

The vehicle was totalled in an accident and an arbitrary $17 depreciation is assigned. I need to clear it.
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5 Replies
AmyC
Employee Tax Expert

How do I clear a "Check this Entry for AMT dep allowed/allowable is too large"?

The depreciation is part of the basis and needed to calculate the amount of gain or loss. Clearing that, will increase your basis.

 

$17 would be for any business use in 2024 before the vehicle was totaled. If you did not use the vehicle in 2024, change the date to 01/01/2024 for disposal of the vehicle to eliminate the depreciation.

 

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How do I clear a "Check this Entry for AMT dep allowed/allowable is too large"?

I've tried to make adjustments, and still get the same error, with the same amount.  I tried the "Recapture 179 deduction" instructions, and again go the same error and same amount.  I then tried claiming to stop usage of the vehicle on 1/1/24, though I had it through 7/28/24 when it was totaled in an accident.  I did not delete all the other expenses.  I completed the worksheets, reran the review, and got the same error with the same amount.  All this for $17.  Do I just remove all entries for the vehicle and eat the deduction?

How do I clear a "Check this Entry for AMT dep allowed/allowable is too large"?

Even after removing the vehicle, effective 1/1/24, and all associated expenses, I am still getting this error.  Can't I just somehow delete this so I can file my taxes???

 

turbotax error.jpg

How do I clear a "Check this Entry for AMT dep allowed/allowable is too large"?

I am getting the same error and I'm not able to file until it's fixed.

MarilynG1
Employee Tax Expert

How do I clear a "Check this Entry for AMT dep allowed/allowable is too large"?

Try entering 0 in that field.

 

The AMT depreciation can't be more than the Remaining Basis of your vehicle (original cost, less depreciation taken).

 

If the vehicle was totaled, you didn't sell it so don't need to enter any prior depreciation taken, like you would if you sold it.

 

You can indicate that you 'stopped using it for business on (date)' and returned it to Personal Use. 

 

@detussing 

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