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Resolving Errors

I am using TurboTax for Business to file a business return for an S-Corporation.  I am attempting to file electronically and TurboTax claims that there are (3) errors in the return that are preventing me from filing the return:

  1. Form 1120S Line 23B is zero.  I have no capital gains and Schedule D is blank, but it is flagging that as an error.
  2. Additional Taxes Smart Worksheet Line A Recapture of Investment Credit - also zero.  I have never claimed an investment tax credit and form 4255 is blank, but it is flagging that as an error.
  3. Form 1120S Business Code - TurboTax is claiming that my business code is invalid, but this is the same code I've used for years that was copied from last year's return.

I don't believe that these are actual errors.  I suspect that these are bugs in TurboTax.  How do I get rid of these errors?

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2 Replies
CatinaT1
Expert Alumni

Resolving Errors

Are you still experiencing this problem? What state are you filing in or are you just doing a federal return?

 

Make sure you have ran all updates. 

 

If using TurboTax Online: Clear your cache and cookies. See this FAQ, for your particular browser.

If using TurboTax Desktop: Please see this FAQ.

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Resolving Errors

Yes, I’m still having that problem, it’s preventing me from filing my return, and I have installed all the latest upgrades as of yesterday.  I am only filing a federal return (no state). I’m convinced that it must be a bug  in TurboTax to declare that I have an error in capital gains and investment tax credits when I have no capital gains or investment tax credits and both entries that are flagged as an error are zero.

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