2022 TurboTax Business; 1120-S; Errors on LOTS of Federal Asset Entry Worksheets
2022 TurboTax Business - Desktop
Filing an 1120-S
TurboTax is indicating errors against over 300 Federal Asset Entry Worksheets!
In every such case, the problem is with said worksheet's Elect OUT of Special Depreciation Allowance line, with the No option being X'd. If I deselect said option (thereby removing said X), the error notice goes away.
I pulled up my 2021 version of TurboTax business and, for these "problem" assets, there are NO boxes checked against said Elect OUT of Special Depreciation Allowance line.
Somehow, apparently, said option became selected magically when the 2021 data were moved into the 2022 version of TurboTax Business!
FWIW, in 18 years of using this product, I have never invoked the special depreciation allowance...
Please help!
UPDATE: I have determined that the problem most like arose when I mistakenly clicked the Skip Election button on the Election to Not Claim the Special Depreciation Allowance page.
Although I've since gone back to correct this mistake, the subject errors persist...manually correcting each one seems a terrible price to pay for a simple error...
