Software Error in Program with Form 7205

Forum|Forum|2 years ago
March 10, 2024
4 replies
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Using the desktop version of TurboTax business - did not take a building energy credit deduction; asking for a form 7205; no such form is listed. The recommendation to delete the form does not help since the form is not listed anyway. I cannot proceed with electronic filing.

TurboTax Business Windows

MSM56

I am having the exact same problem. This is clearly a defective issue with the program's algorithm as there is no way to change this setting. Even if you go through the deductions line by line, it does not even show up as an option to enter, yet it shows up on the final form?

So I have downloaded the form 7205 from the IRS and simply added the comment (My Company does not own a commercial building, this is a defect in the Turbo Tax Program) so I can attach and file by March 15th which is when S Corp tax returns are due.

PatriciaV

Employee

In TurboTax Business, the Energy Efficient Commercial Buildings Deduction appears under Common Business Expenses, found on the Deductions summary page. Be sure the box is empty (no zero).

Or open Form 1120-S using Forms Mode and delete the zero from Line 19.

@MSM56

@SKnieling

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MSM56

Thank you very much. The suggestion to fix by opening the "Forms" page and deleting the Zero worked.

Thanks again 🙂

DalinarKohlin

This is so stupid. TT enters a 0 by itself, then can't file the form because there is a 0 on that line. You have got to be kidding me. I have been trying to fix this issue for over a week. Finally found the answer here, at the 11th hour.

I removed every deduction I could find related to my side business and I was still getting this error. Makes me never want to use TurboTax ever again.

BobL4

Do the correction on the Schedule C WORKSHEET not the Schedule C Form. Then it will let you e-file.

EdwardFTCharfauros

Found the fix to remove the 0 in the box for Form 7205 in Home and Business Desktop. Form 7205 is under "Any Energy Efficient Commercial Buildings?" within Vehicle Summary. Ensure you DO NOT choose Standard Deduction but Do it myself within Business and Income.