Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Oct 12, 2024 5:20:45 AM

Intangible Drilling Cost Current Year Calculation

Current year amortization amount error prevents me from e-filing.  Seems to be an error in your software.  If I have a 5 year amortization of $60k that corresponds to an IDC current year deduction of $12k.  Your software check says the Amortization Amount must be $12k in the error check which will not let me e-file.

0 1 4878
1 Replies
New Member
Oct 12, 2024 5:38:24 AM

Error Corrected!  User entered current year deduction on IDC K-1 question instead of full amortization amount.  E-filed correctly without issue.