How do I fix the error on Form 4562 Section 179 Summary: Error Line 12 in 1120S and 1065

[tlsmith]

here is a serious problem b/t Fed 1120S and AR 1100 re depreciation, esp if there is a Sch F in Fed return. AR says "net income" does not agree and the only way to make agree is "override". Even went back and changed a S corp with Sch F in AR to show error when previously no error and submitted and accepted by IRS and State. Need Intuit to FIX. Nearly all my S corps have Sch F.

Also, AR says Fed 4562 required even when Fed says NOT required. Need them to fix.

[TaxGuyBill]

I don't the answer, but have tried just getting rid of that mock Schedule F? Schedule F is not supposed to be part of a 1120-S, so maybe getting rid of that could solve the problem???

[sm5463]

Hello, 

Thank you very much for bringing these issues to our attention. Intuit will shortly be releasing a fix for an issue that caused depreciation related to Schedule F farm assets to show incorrectly on the AR S corp return. The incorrect error message stating Form 4562 is required in circumstances when it is not has also been removed. 

However, note that if there is current year AR 179 depreciation on any assets, you may still see the error message about net income not matching Schedule K. This is related to specifics of the AR instructions which cause this to be out of balance, and the error can be cleared by manually adjusting and/or should not block you from proceeding to file the return if you do not think a change is necessary in your return.