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Form 7205 Energy Efficient Commercial Buildings Deduction

Forum|Forum|2 years ago
January 21, 2024
6 replies
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Hello TurboTax, the federal return data was reviewed and found no errors.

While proceeding with "File A Return" the software notes "Attachment Needed - Form 7205, Energy Efficiency Commercial Buildings Deduction".

The entered value is $0 for this deduction on page 1, I did not enter this deduction on tax return.

Please help?

I'm using Windows 10 software, any tips here would be appreciated, thank you.

TurboTax Business Windows

Best answer by Bighoss4620

Hello all. I been trying to get with this issue for some time now but by God's grace; I figured it out on my own. Go back to your to where they ask you about the energy efficient commercial building and just remove the zero (0). It will fix your problem and there will be no errors!

L

LDW2024

I'm having the same problem and am using Windows 11.

B

bwclandAuthor

Hello LDW2024, I spoke with Turbo Tax further about this form 7205, they were helpful in guiding me to figure it out. It is a newly issued requirement starting for tax in 2023. If your business owns a structure, or is involved with designing of government owned structures that may be the connection and reason for the requirement of completion of form 7205 even if the deduction does not apply. The i7205 is a 4 page instruction form for whom it applies to. After completion the form with $0 deduction and attaching to the return, the return was accepted by IRS. Hope this helps.

D

detwilerfam0

So where do I find this form 7205, so I can fill it out and NOT claim this deduction?

Frustrating.

B

Bighoss4620Answer

Hello all. I been trying to get with this issue for some time now but by God's grace; I figured it out on my own. Go back to your to where they ask you about the energy efficient commercial building and just remove the zero (0). It will fix your problem and there will be no errors!

D

detwilerfam0

I can't seem to REMOVE that zero - how did you get to that part of Schedule C and delete it?

B

Bighoss4620

Sorry. Right now I am at. But I will try to post the step tonight or in the morning. I was going to do this but was running late for work.

D

djkmann

Solved:

I am using TurboTax Home and Business 2023 on a Mac

To solve this, I went to Business Expenses, the page where you enter in Advertising, Business Travel, etc. A little bit down on that list you will find "Energy Efficient Buildings". Select Update and delete the 0 amount.

This is done in the "step by step" view of Turbo Tax, NOT in the Forms view.

This worked for me and I was able to e-file the Federal return.

J

joeroo222

This worked for me as well, on windows 10 using TurboTax Business.

I can confirm removing the zero from that field corrects the issue.

I hope they fix this next time around...

W

whanders

I had a similar problem. When I spoke with a turbo tax rep, we were able to fix the problem this way:

Go to "All Other Expenses" under "Business Expenses."

At the bottom of the page there is a zero entered in the box that says "Energy Efficient Buildings."

Delete that zero so that the box is empty (no zero, no anything - just blank.)

Then try to efile.

Worked for me!

C

CC589

I experienced this problem of an "Energy Efficient Building" deduction problem while working on my 2024 Federal Tax return. I tried everything, even printing out the 7205 Form in order to complete it. However, nothing on the form applied to me. I worked on this problem for over five (5) hours!!!! This was very frustrating and made no sense!!! After performing a Google search, I came across your recommended solution. Thank You Very Much!!!!!!! I was very disappointed with Turbo Tax for creating this issue because I expected better from their product.

M

MichaelDesna

Hey everyone ! I just figured out how to eliminate the Form 7205 and not being able to e file problem. Completely shut down your computer and then start your Turbo Tax. An update will come up which you install and relaunch TT. I did this and was able to re file. It would have been nice if Turbo Tax notified us all of the update so we wouldn't be pulling out our hair (those of us who have hair left !) to fix this problem !

C

CLINTHARMAN

Its got to be a glitch

M

MonikaK1

Some users who have stated that they do not own or rent any real estate or property for business were still being prompted to complete Form 7205, and it was preventing e-filing.

Users encountering this situation have found the following solution works when using TurboTax Home and Business:

In Business Expenses, under Other Common Business Expenses, search the list and you will find "Energy Efficient Buildings". Select Update and delete the 0 amount or other amount that appears.

This is done in the "step by step" view of Turbo Tax, NOT in the Forms view.

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