You’ll see the following error message on the ERRORS page in H&R Block’s 2016 tax software if, while completing the T2017 page, you entered a 2016 reserve amount for dispositions of qualified farm or fishing property (QFFP) after April 20, 2015 that’s higher than the amount you entered in the field labelled Amount of 2015 reserve for dispositions of QFFP after April 20, 2015 (enter the amount from line 6702 on your 2015 T2017 form).
Note: Unless you disposed of a QFFP in 2016 (for which you’re reporting a gain or a loss on your Schedule 3), these amounts should be the same:
Unless you’re reporting a 2016 gain (or loss) from the disposition of qualified farm or fishing property (QFFP) on Schedule 3, the amount of 2016 reserve dispositions of QFFP after April 20, 2015 can’t be more than the same amount for 2015 on your T2017 page. Let’s take a moment to go back and double-check these amounts. [error code: 437]
How do I fix this?
To correct this error, return to the T2017 page in H&R Block’s tax software and double-check the amounts you entered. Remember, the amount of 2016 and 2015 reserves for disposition of a QFFP after April 20, 2015 must be the same unless you disposed of a QFFP in 2016; if that’s the case, you’ll need to report the disposition of this property by completing Schedule 3: Capital gains (or losses) in 2016.
Note: You can find both the T2017 and Schedule 3 pages under the PENSION PLANS AND INVESTMENTS icon of the PREPARE tab.