2023 T777 Has Calculation Errors

[Drew12345]

Please review the code which calculates the Values for box 5 and box 6 on form T777. 

It appears that the underlying calculations utilize the old values from 2022 rather than the updated values for 2023. 

i.e. For box 5, $42,353 should be used, but the calculation uses $40,000 which is from 2022.  For box 6, $950 should be used, but the calculation uses $900 which is from 2022.

Thanks in advance.

[Drew12345]

I think my misunderstanding is due to the fact that my lease commenced in 2022, which is why the calculation uses 2022 values of $40,000 and $900 respectively rather than the 2023 values.

Thanks.

[TurboTaxGinette]

Thank you for the update.  Yes, that could be a reason.

Thank you for choosing TurboTax.