benjmsher
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- Got Cheered for i ran into the problem of my section 179 being limited..... October 14, 2020 2:47 PM
- Posted i ran into the problem of my section 179 being limited.... on Business & farm. June 6, 2019 12:46 AM
- Posted i got the same error on 21 feb. i had a lot of forms / p... on Get your taxes done using TurboTax. June 3, 2019 10:13 AM
- Got Cheered for Re: Turbotax 2018 Home & Business. February 26, 2019 11:11 PM
- Got Cheered for Re: Turbotax 2018 Home & Business. February 10, 2019 4:17 PM
- Posted Re: Turbotax 2018 Home & Business on Get your taxes done using TurboTax. February 10, 2019 3:39 PM
- Cheered Turbotax 2018 Deluxe crashes constantly for ByronS. February 10, 2019 3:39 PM
June 6, 2019
12:46 AM
1 Cheer
i ran into the problem of my section 179 being limited. why? because turbotax does not enter / calculate your eligible business income. it only calculates Sked F and Sked C at Line 3a. plus some other items. in my case, i had very little positive income from F and C. F had a big loss and C had a gain so it was pretty much a wash. section 179 is limited to actual "business income" where you materially participate. so if you have net biz losses, you can't take any 179. in my case the key was line 3b, where i could manually enter my rental real estate income. that is because i classify myself a real estate professional who actively participates in my rental properties. once i manually entered this at 3b, my limitation went away. furthermore, my calif. state tax dropped dramatically too. so this is an extremely important oversight on the part of turbotax software. turbotax should automatically include Sked E income (for r. e. professionals) at this page which is called "Depreciation Options" in your list of forms. which carries over to Form 4592 "Section 179 Summary". took me forever to figure this out, especially in view of all the other arcane deprecation rules such as the new Special Depreciation Allowance. further note on the latter: if you elect SDA instead of 179, then you are forced by irs regs to use SDA for all of that class of property across your return. i didn't want to do that. so i went back to using 179, where you can elect to deduct all of an item in year 1. which amounts to the same result, as far as i can tell.
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June 3, 2019
10:13 AM
i got the same error on 21 feb. i had a lot of forms / pages open for manually entering data. i closed all forms. i saved to a new location successfully. then i did a save as back to the prior location, and that worked too. i closed ttax. later i will reopen and check for errors. related is a lot of crashing / freezing. this made me alter my habits and do manual saves after every 3 or 4 entries of data. ttax really needs to upgrade it's platform to do auto saving after every entry. maybe that's why they want users to move to the online platform vs people like myself who prefer to have the CD for longterm storage / reuse.
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February 10, 2019
3:39 PM
2 Cheers
my copy is a cd purchased on amazon. Home and Business version. I'm running it on Windows 7 professional. it is randomly crashing and having to be reopened. the screen goes light grey and sits there. if you click on it, then you get the crash advisory: what would you like to do ... restart, search for a fix, etc. i have taken to manually saving almost every time i add new information. otherwise my work is lost. i've never had a problem with TT so this is very dissapointing. and why on earth isn't it set up to auto save constantly, with each additional entry? that being said, i often have many pages open and sometimes prior years also open. not sure if that is relevant or not. i do perform updates regularly so it doesn't seem that that matters.
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