Taxwise Users, K-1, Sche E, 179 Deduction

[geekgirldany]

I am having a heck of a time here with K-1 worksheet for Schedule E. Bringing forward income and 179 deduction from S-Corp. I am using Taxwise. Does a 4562 Depreciation Form have to filled out to get the 179 deduction to show? What about when you have a husband and wife and there are two K-1 worksheets? Two 4562?

I have not been doing the 4562 in the past. Just forcing in the 179. But this year it is like Taxwise will not take it unless I fill out the 4562. If I force it in, it shows up as a adjustment on Georgia because the state use to not recognize the 179 increase or special depreciation.

I thought some of you who use Taxwise might could help. I called yesterday and was surprised at the bad customer service...

Thanks for any help.

[Unregistered]

Itis not too late to switch to Drake Software

[Chief]

Software

Or switch to TaxSlayer Pro

[veritas]

Or Lacerete

[BOB W]

Call...............

............... support and let them walk you through it..............

[Unregistered]

Part 1 of Form 4562 has to be done in order to calculate the total allowable Section 179 deduction.

[geekgirldany]

So I guess I will be looking at some different tax software soon.

I did call support to have them walk me through it. Instead I walked support on how to get to the K-1 worksheet. Which resulted in the answer being... "yes you can do two K-1s.". Plus to my question of having to do two 4562s for each K-1 "I guess you have to do it because they want the detail". Maybe its like the IRS.. if I call back two more times I will eventually get a good answer

[John of PA]

Switch?

Switch tax software, yes indeed it is too late. For next year look at Lacerte, it serves me well.

[wv112]

I am sorry you got hold of a bad rep. Email TaxWise and tell them. I have used Tax Wise for for over 10 years and I really like the software. The knowledge board on the support web site is a real good way to solve problems, email support is also good.

[geekgirldany]

Yeah I thought about calling back again. I have used them too for around 10 years. This makes the third time in the past two years I have had trouble. Like you said maybe just bad rep. I do like their product and I am so use to it. Their support is ususally pretty good. I looked to change a couple years ago but knew there would be a learning curve.