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alajumble
February 7, 2025
Question

Getting an error on my 1040 Schedule C regarding depreciation but there is no way to make a correction within TurboTax

  • February 7, 2025
  • 1 reply
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    T
    ThomasM125
    February 7, 2025

    One option is to delete the asset that is causing the problem and re-enter it. If you do so, make sure you note the acquisition date and cost. Also, if any expense deduction allowance was taken on it such as section 179 or bonus depreciation, you would need to know that amount to re-enter it. TurboTax will calculate the prior depreciation on it but you will be asked to confirm that amount, so you need to be aware of that.

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