This final edit is preventing my submitting my tax returns electronically. I think this relates to the two limited partnerships for which I sold all my units in 2021 (i.e., Energy Transfer LP and USA Compression Partners LP, for which I had entered into Turbotax the data received the requisite 2021 K-1 schedules). The Turbotax Deluxe application I'm using entered a zero automatically on Line 12, and this seems to be the problem. Turbotax does not allow me to enter a change to that zero on line 12. How do I satisfy this edit (get around this edit) so I can submit my tax returns? What's the problem this edit is trying to address? I've gone over all my Turbotax entries several times and have exhausted everything I can think of. I really need help.
California Form 3885A Sec 179 Wks Line 12 is a calculated value that you can't override. Where you fix this issue depends on the source of the Section 179 carryover.
If you know where that carryover appears on your return last year, return to that section of the California State interview and review related adjustments for California to see if you can change the amount of that's coming through to your State return. This would appear on Line 10 of the Sec 179 Wks, which would then be included in Line 12.
Thank you PatriciaV for your response. The $4,093 I see on line 10 of the 2021 CA Section 179 worksheet seems to come from the 2020 Publicly Traded Partnership Worksheet for 2020 (produced by 2020 Turbotax Deluxe application) for Energy Transfer LP. I note as a curious matter that the same 2020 worksheet for USA Compression Partners LP shows $623, but this $623 "unallowed loss from this partnership" has not made it to line 10 of the 2021 CA Section 179 worksheet. That seems strange. While that is a curious matter, it is not my main concern. Neither of these amounts (i.e., neither the $4,093 nor the $623) is being carried on to line 12. Granted, I don't know if line 12 remaining at zero is the reason my tax return cannot pass this final edit (but I'm guessing that it is), I'm still stuck at a place where I'm unable to submit my tax returns electronically. I did try adding the $4,093 as an adjustment to California (re the California State interview and review). That managed to double the amount on line 10 (an error which I subsequently reversed), it had no affect on line 12. I really need help.
What is your total business income on Line 11 of Form 3885A? There is a limitation based on total income.
PatriciaV. My tax returns were just submitted electronically. Apparently I did something that got me past that final edit. I'll have to spend some time trying to figure out what I'd been dong wrong. Whatever I did, I'm hoping and expecting that it was accurate. I guess I'm a bit past caring whether or not everything was done correctly. And besides, I paid the extra bucks Turbotax audit protection. Thank you for your interest and attention to my Turbotax problem(s).
I have the same problem on line 12. Mine is calculated correctly - $25,000, which is the cap of the allowable amount in California. It wouldn't let me edit or do anything about it but it holds up the eFiling. Super annoying.
The $28,900 is carried over from Sec 179 worksheet. Line 12 has the amount $25,000.00. The calculations on Form 3885A looks correct. However, the review is flagging an error. What is the error and how do I fix it?
Hello, I am getting the same--$26,500 Section 179, but CA will only take $25,000 and the form won't clear TT review. Would love to know if anyone was able to solve this.
This is still not working and it's time for extension. There is always a problem with the Sec 179 deduction and CA forms. This year the form is not populating my business income (which is substantial) and so the form says I am allowed 0 Sec 179 deduction. I cannot override the form. I cannot enter my business income and so I have an error message and can't efile. Can TurboTax offer any help?
I find it very interesting there is a complicated fix when I select "Help" on this error code. Unfortunately the fix does not work.
If your section 179 is coming from a K-1, try this. Go into your K-1 and specifically edit line 12 C for the California column so that the amount does not exceed $25,000. If you have multiple K ones such as you and your wife have received a K-1 and combined the amounts exceed $25,000 then you may have to reduce the amount in one K one so that the combined ones do not exceed $25,000 in the California column.
If it's not coming from a K-1, you could delete this form and step through that section of the CA interview to let it repopulate.
Or, right click on the amount and 'override' and type in 25,000 (which is what it should be).