Form 4562, Line 10 error in final review

[Thect]

@DavidS127 Please help. My token number is 589443

[Kenjhee]

Yes, anyone with an ETA on a fix from Intuit? Or should I just file by mail?

[Bill H]

 I have the same problem as  everyone else in this section. I believe it is related to a program error that carry's the 179 carryover as a negative 179 deduction on to the individual K-1 199A forms. It shouldn't carry it to the individual K-1's because there is no deduction allowed. It should just carry it forward for the following year on the 4562 form.

 This appears to be a Turbo Tax program problem, and can only be fixed by them. I wish they would get it fixed! Very frustrating!!!

[Davidoc]

DavidS127,

When will we get a fix from Turbotax for this problem?  Many of us need to electronically send our business returns in.  Thanks for your help.

[OVJosh]

David,

This problem is still not resolved.  When will TurboTax do something about it?  I cannot complete my business taxes because of this problem.

[OVJosh]

David,

My token number is 591146.

[skinaturals4u]

The number that is carried over is CORRECT. I checked the form itself and it is populated on line 10 so what gives TURBOTAX, Fix this !!!!!!!!!!!!!!!!!!!!!!

It's a shame to pay this kind of money to have this stupid bug not fixed by now.  Come on guys!

[w5larkc]

Having the same issue.  Form 4562 Section 179 Summary line 10 transfers correctly from 2018, line 11 is 0, line 12 is 0 and line 13 is the same as 10.  Everything is correct but still getting the error!  Please help-would like to have the taxes completed and this is the only problem!!!

[kevin40]

Same problem. Form 4562 Section 179 Summary line 10 transfers correctly from 2018, line 11 is 0, line 12 is 0 and line 13 is the same as 10.  Any update on a solution? Is someone from TurboTax working to fix this?? Thanks.

[kb0wwp]

I'm getting this error as well.  

@DavidS127 my token number is 596225.

[Dragonfyre]

I have been getting this error for the last 2 weeks. I even submitted online with a token for Turbo Tax to fix this error. No response from Turbo Tax. So frustrating to pay for a program with this error and delaying me filing my taxes.  

I found this Turbo Tax Fix: 

https://ttlc.intuit.com/community/tax-topics/help/check-this-entry-form-4562-section-179-summary-lin...

It worked for me.  It did take me a little bit of time to figure out the 'helpful' instructions.  

[kb0wwp]

Well, thanks for posting that, but it did not work for me.

The instructions says "If you have Form 4562 listed in the forms in the gray column on the left" (I don't.)

Then it says "If you have Form K-1 Partnership" (I don't have anything called that, but I do have Sch K-1 Wks, Schedule K-1, and Sch K Reconcile, and none of those have a box titled "Section 179 Information by Activity for K-1 Reporting".)

Can anyone from TurboTax chime in here?

[DavidS127 · Accepted solution]

The TurboTax investigation of this issue provided instructions for this issue if you already have a Form 4562 in your tax return (i.e., you had 2019 asset additions).  But, there is an additional workaround if you do not already have a Form 4562 in your tax return.   See the instructions for both, below.  You should save (File>Save As) a back-up copy of your tax file before attempting these changes in case you need it.

If you already have a Form 4562 in your 2019 tax return (i.e., you have 2019 asset additions)

1. Open your 2019 return in TurboTax Business
2. Go to Forms mode
3. Click on Form 4562
4. Under Part 1, find the box labeled "Section 179 Information by Activity for K-1 Reporting"
5. On row B, column a of "Section 179 Information by Activity for K-1 Reporting", enter the amount from Sec 179 Limit, Line 10
6. On row C, column a of "Section 179 Information by Activity for K-1 Reporting", enter the amount from Sec 179 Limit, Line 11

If you do not have a Form 4562 in your 2019 tax return (i.e., you do not have 2019 asset additions):

1. Open your 2019 return in TurboTax Business
2. Go to Forms mode
3. Click the Open Forms icon on the top left. In the Search window type Form 4562
4. Click on Form 4562, and then the Open Form button at the bottom of the pop-up window.
5. On the newly opened Form 4562 (use tab at top of page to access newly opened Form 4562), populate Line 10 with the amount from Line 10 of the Sec 179 Limit form/worksheet
6. Delete the old “Sec 179 Limit” worksheet in the tax return, as it now represents an “extra” Form 4562; your carry-over of Sec 179 to 2020 is now on the Form 4562 you added.

@Davidoc

@Anonymous

@Masonry3

@rosefieldservice

@phillbrown777

@berpatri

@stashia

@candycaned

@Dragonfyre

@Thect

[DavidS127 · Accepted solution]

The TurboTax investigation of this issue provided instructions for this issue if you already have a Form 4562 in your tax return (i.e., you had 2019 asset additions).  But, there is an additional workaround if you do not already have a Form 4562 in your tax return.   See the instructions for both, below.  You should save (File>Save As) a back-up copy of your tax file before attempting these changes in case you need it.

If you already have a Form 4562 in your 2019 tax return (i.e., you have 2019 asset additions):

1. Open your 2019 return in TurboTax Business
2. Go to Forms mode
3. Click on Form 4562
4. Under Part 1, find the box labeled "Section 179 Information by Activity for K-1 Reporting"
5. On row B, column a of "Section 179 Information by Activity for K-1 Reporting", enter the amount from Sec 179 Limit, Line 10
6. On row C, column a of "Section 179 Information by Activity for K-1 Reporting", enter the amount from Sec 179 Limit, Line 11

If you do not have a Form 4562 in your 2019 tax return (i.e., you do not have 2019 asset additions):

1. Open your 2019 return in TurboTax Business
2. Go to Forms mode
3. Click the Open Forms icon on the top left. In the Search window type Form 4562
4. Click on Form 4562, and then the Open Form button at the bottom of the pop-up window.
5. On the newly opened Form 4562 (use tab at top of page to access newly opened Form 4562), populate Line 10 with the amount from Line 10 of the Sec 179 Limit form/worksheet
6. Delete the old “Sec 179 Limit” worksheet in the tax return, as it now represents an “extra” Form 4562; your carry-over of Sec 179 to 2020 is now on the Form 4562 you added.

@Kenjhee

@Bill H

@OVJosh

@skinaturals4u

@w5larkc

@kevin40

@kb0wwp

[Kenjhee]

This worked! Thank you, David!!!!!