section 179 miscalculating on 2024

[joelrat]

The S Corporation  module in the 2024 Pro Series program is not calculating Section 179 depreciation correctly.

When section 179 is taken on the asset entry worksheet (there is no income limitation issues),

The amount of the Section 179 depreciation does not flow to the K-1 nor Schedule M-1.

Form 4562 is not activated.

Line 2 of Form 4562 is 0. When right clicking on line 2 for cross reference,  it states yes box must be marked on the "Eligible Section 179 property" on the asset entry worksheet. There is no such box, nor has there ever been unless it was checked seamlessly in the past.

I have now called technical support three times on this issue.

The first time I was on the phone almost an hour. The representative agreed this was a bug but offered no route to a solution. Eventually I was disconnected.

The second time the representative was more knowledgeable, she requested a sanitized file. After another half hour, she said this is not a final program and I should just wait till it is final. I said shouldn't  this bug be reported and she said no.

The third person advised me to post this issue. I've spent a lot of time trying to inform Pro Series about a bug. I hope this accomplishes my goal.

Joel

756683761

[Jim-from-Ohio]

Second rep you talked to is actually correct. It is because 2024 program is mostly 2023's program with a different coverpage... Program is not ready yet for calculations

[IRonMaN]

It’s only December 5th.  The program isn’t typically somewhat reliable until the middle of January.  The more you play with the program this time of year, the more issues you will find.  I’m at least a month away before I even think about installing the program because of these types of issues 

[TaxGuyBill]

Intuit does not program its software to Tax Law; they program it according to Publications and Instructions.

The final 2024 versions of Publication 946 and the Instructions to Form 4562 have not been released yet, so Intuit doesn't care that the program is faulty.