7281

The following diagnostic is generating:

The amount of Section 179 entered should be reduced because the special depreciation allowance and Section 179 exceed the cost basis of the asset.

 

Solution:

Check screen 14 Depreciation (4562)>Additional Information>Percentage of business use Percentage of Business Use (.xxxx), (code 503). If a -1 is entered this diagnostic will be triggered.

Critical, will not prevent e-file transmission.
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