dbfailey
Level 1
05-06-2020
12:17 AM
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How do I correct error on part 1 line 12?
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itonewbie
Level 15
05-06-2020
12:41 AM
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What error?
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Still an AllStar
Still an AllStar
dbfailey
Level 1
05-06-2020
01:06 AM
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Hi Sir,
Thank you for your reply. I'm getting an error on part 1 line 12. I'ts telling me the taxpayer has multiple activities with the current year Section 179 deductions and exceeded Section 179 Limitations and to allocate Section 179.
dkh
Level 15
05-06-2020
08:06 AM
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You'll need to reduce Sec179 on your assets until you are within the allowed limit. The assets you can't take Sec179 for hopefully qualify for Special Depreciation Allowance.
dkh
Level 15
05-06-2020
08:09 AM
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Form 4562 Part I lines 1-5 will help with your limit.
dbfailey
Level 1
05-06-2020
07:09 PM
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Sir,
I appreciate your assistance. I was able to solve this issue by deleting zero on line 12.
Thank you,
David
dkh
Level 15
05-06-2020
08:02 PM
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Line 12 is a calculated cell. How did you delete the zero on line 12 without overriding ?