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How to delete an entry from Form 4562

I got an error when I ran error check. it told me that the amount of 179 deduction were too much. My accountant suggested removing the amount on line 10 and see if that fixes the error. I am not sure how to delete this amount. 

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1 Reply
PatriciaV
Expert Alumni

How to delete an entry from Form 4562

Does TurboTax display a sub-form when you receive the error message? If so, you may be able to adjust the carryover amount in that form.

 

If not, you'll need to track down the source and edit the amount in that section of TurboTax. Do you know where the Section 179 carryover was reported? Was it from a business, rental property, or Schedule K-1? Each area has questions regarding carryovers, which are then reported on Form 4562. If you transferred your prior year return to begin this year, this number was imported from the prior year return. You may be able to edit the imported number if you can find which business it came from.

 

This search can be difficult in TurboTax Online, unless you know which business had the carryover. Open that section of your return and work through the profile section (which is where the carryover questions appear).

 

If you're using TurboTax for Desktop, you may be able to change the amount with a manual entry.

 

Open your return in TurboTax for Desktop and click the Forms icon in the TurboTax header. 

  1. In the list of Forms in My Return on the left, find Form 4562 and click on the form name to open it in the large window. 
  2. Scroll down to Line 10.
  3. Right-click on the amount in the box and choose "Data Source."
  4. The pop-up window will give you the name of the source form for the entry.
  5. Open that form, find the number, and adjust as needed.
  6. Click Step-by-Step in the header to return to the main screens.
  7. Run Federal Review again.
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