Both lithium and magnesium display several similar properties due to the diagonal relationship ; however, the one which is incorrect is

Mg can from basic carbonate like.
$\begin{array}{l}5{\mathrm{Mg}}^{+2}+6{\mathrm{CO}}_3^{2-}+7{\mathrm{H}}_2\mathrm{O}\to \\ \end{array}4{\mathrm{MgCO}}_3\cdot \mathrm{Mg}(\mathrm{OH}{)}_2\cdot 5{\mathrm{H}}_2\mathrm{O}\downarrow +2{\mathrm{HCO}}_3^{-}$
while Li can form only carbonate [LiCO₃] not basic carbonate