Section 179 carry over causes error in TT

Forum|Forum|1 year ago
March 2, 2025
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I had a Section 179 expense (Form 4562) that TT disallowed in 2023 tax return due to business income limitation; ok , I understand . Part I, line 13 of that form lists it for carry over to 2024.

But now when filing for 2024 I get an error in 2024 Carry Over Worksheet line 24 that apparently has the correct number from 2023. Error states: "Does not match sum of the section 179 carry overs"

I had one carryover; it is same number on the 2023 return and now the 2024 returns. I cannot override and this is confusing.

Best answer by PatriciaV

The message for the Carryover Worksheet appears because the total Section 179 carried over from your prior year doesn't match the sum of carryovers on the individual activity worksheets. You'll need to review the worksheets for any assets to be sure a carryover was entered from last year. The goal is for the sum of the individual carryover amounts to match the total on the carryover worksheet.

The amount shown in this section comes from Form 4562 Line 13. Also look for the Section 179 Expense Report from your prior year return for the sources that may have contributed to the total carryover shown on your current return.

Additional Info: How do I view, download, or print a prior-year return?

PatriciaVAnswer

Employee

Additional Info: How do I view, download, or print a prior-year return?

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PaulB1Author

Employee

Thank you for your response which I understand. However my complaint with TT is that the data did not propagate from 2023 to 2024 return. My 2023 Form 4562 shows a carry-over amount (to 2024) in Part I, Line 13. My 2024 carryover worksheet shows zero and will generate an error when I force a value equal to the 2023 amount.