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NOLA5678
Level 1

I am trying to enter a farm asset under $2,500 and expense this year. I am using Premiere. Seems to be a glitch in program. No opportunity to enter the asset.

 
3 Replies
DaveF1006
Employee Tax Expert

I am trying to enter a farm asset under $2,500 and expense this year. I am using Premiere. Seems to be a glitch in program. No opportunity to enter the asset.

It might be a question on navigation. I was able to get the question to appear in my test account. 

  1. As you enter information about your farm, you should reach a screen that says Your Farming Income and Expenses
  2. Below this screen are a number of categories such as income, expenses, farm vehicles etc. Select Farm assets
  3. first question, Did You Have Any Assets? indicate yes
  4. Next question should ask Did you buy any items for any business, rental property and/or farm that cost $2,500 or less in 2019? say yes

Now if you still are having problems navigating to this entry, you may want to contact a specialist that can work through that section of the return with you.

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NOLA5678
Level 1

I am trying to enter a farm asset under $2,500 and expense this year. I am using Premiere. Seems to be a glitch in program. No opportunity to enter the asset.

Dave, my version of Premier bears no resemblance to this. I tried your suggestion last night based on another answered question. For an hour. There is NO screen that combines Income and Expenses. First a series of income questions, then a series of expense questions. There is a sequence of questions on assets. Buy anything $2,500 or less? Let's see if you can expense. Checked I wanted annual election. Has every item cost less than $2,500 or only some. Other uncommon situations. No. Instead of letting me enter the asset, it shifts abruptly to questions on Self-Employment tax. 

 

I am a problem solver and a techie, but I have no idea where to go on this. Bought the software at Costco, and have auto updates on. Mystified that the program is totally different. Husband could not figure it out either. Impossible to talk to a live person at TT, and their AI question program is horrible. As far as I know, haven't lost my marbles with social isolation. 

 

NOLA5678
Level 1

I am trying to enter a farm asset under $2,500 and expense this year. I am using Premiere. Seems to be a glitch in program. No opportunity to enter the asset.

I managed to solve my problem. It is a mystery why my version of Premier seems to be different than the one others seem to have. There is no screen that mentions both Income and Expenses. There is a series of questions about assets. One asks if all the assets are below $2500, with a checkoff Yes or No. If you check Yes, it says to enter the cost under Miscellaneous Expense. This is a change from how Premier handled it in the past. It is also very easy to miss, since virtually every other screen with a yes/no question feeds you into the proper entry point when you hit continue. I missed it 3 times before finally noticing. 

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