Crank Posted January 19, 2013 Report Share Posted January 19, 2013 Been playing around with a return and cant seems to clear an error on Sch C. Even though there is no inventory, line 42, ending COGS remains red. Cant seem to find a way to clear this error. If I am not missing something hopefully this will be addressed. EDIT: Well, I found out that I had "Cost" selected and unselecting it clears the red box on line 42. However, I still get 2 error codes for Sch C that when clicked bring me to the "Street Address" (which is filled in) Section E of the form just above the "Accounting Method" and there are no red boxes on the form. Still puzzled about what these two errrors are. Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted January 19, 2013 Report Share Posted January 19, 2013 Crank, there is a problem with address formatting in 1040A and 1040EZ forms as well. Quote Link to comment Share on other sites More sharing options...
Crank Posted January 19, 2013 Author Report Share Posted January 19, 2013 Taxed, do you think the address fromatting issues is causing the Sch C unknown errors? Hmm thats odd. Quote Link to comment Share on other sites More sharing options...
jetaxes Posted January 19, 2013 Report Share Posted January 19, 2013 The reason the box is red on line 42 on schedule is because you did not put in an amount for ending inventory in line 41. I just found this past year that if you do not normally have beginning inventory and an ending inventory that you are not suppose to fill out the cost of goods sold Part III. I had been filling it out for many years and for the life of me I cant remember where I saw this. After I have lunch, I will check a couple of places and let you know. joane Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted January 19, 2013 Report Share Posted January 19, 2013 Can someone run a Form 8829 and see if they can link it to Form 4562 to calculate depreciation. My line #40 is o no matter what you do. Thanks. Quote Link to comment Share on other sites More sharing options...
Crank Posted January 19, 2013 Author Report Share Posted January 19, 2013 Joanne, Thanks but I had zeros in all lines including ending inventory. There error only cleared when I unchecked the "cost" box and had no boxes checked. Quote Link to comment Share on other sites More sharing options...
Crank Posted January 19, 2013 Author Report Share Posted January 19, 2013 Taxed, My line 40 on Form 4562 is blank when it should be calculating the depreciation after all info is input. Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted January 19, 2013 Report Share Posted January 19, 2013 This is not good. I have been at it since morning today and am getting very nervous if I will be able to rely on this software to do complex returns. I have a meeting with my partner tomorrow PM to see what we need to do. I can NOT take a chance with my business clients with an unstable software! I guess I have to pay for per return, like I used to when I first started using computer. This is real progress! Quote Link to comment Share on other sites More sharing options...
Crank Posted January 19, 2013 Author Report Share Posted January 19, 2013 Im getting concerned too. Please let the group know what you decide as others including myself are in the same boat. I guesss Mike Dubin jumped ship. Maybe Ill email him. 1 Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted January 19, 2013 Report Share Posted January 19, 2013 I am done for today it is 4pm. I will not do anymore testing till the next update and if the same problems are there then I am done. Stick a fork in me! I can't afford to get a heart attack! 1 Quote Link to comment Share on other sites More sharing options...
TRX 1 Posted January 20, 2013 Report Share Posted January 20, 2013 Taxed, My line 40 on Form 4562 is blank when it should be calculating the depreciation after all info is input. Give me exact details in an email to me so I can recreate it. Most of the issues you guys are having I cannot recreate, so I need detials so I can get everything fixed nut email it to me so I can discuss it with my team. [email protected] Doug Quote Link to comment Share on other sites More sharing options...
Guest Taxed Posted January 20, 2013 Report Share Posted January 20, 2013 Crank, try this before you e-mail Doug. I tried it and it worked. Part III Sch -C line 33a check cost line 34 check no line 35 put beg yr inventory line 36 put current yr purchases line 37, 38, 39 put 0 for now (most of my returns are 0 there) line 41 put end yr inventory and then reevaluate and see if the red goes away. It did on mine! Doug can you please have your expert troubleshooter look at Form 8829 and see why depreciation percentage is not being calculated and why line 40 remains 0 and can not be linked to any depreciation worksheet. After that is fixed can you see why the realestate tax and mortgage interest portion deducted on 8829 is not reflected on Sch A. There should be a screen or worksheet to do that adjustment otherwise many taxpreparers will be deducting more than 100% of those items on a return and will flag a CP2000. This would be a software glitch in my opinion because all your other competitor's software handle this correctly as a matter of fact the Redgear product did this beautifully! Also why did the Various and Inherited entry get wiped out in update 10. It was working before after we complained. As you can tell we are really getting nervous this late stage and we have NOt even tested 2011 clients because we can't proforma. I hope your next update fixes that and we can sleep little better! Quote Link to comment Share on other sites More sharing options...
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