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Reporting State Depreciation differing from federal on K1s
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Reporting State Depreciation differing from federal on K1s
Reporting State Depreciation differing from federal on K1s
Submitted by bloutos on 08-19-2025 03:50 PMThe program should report the state tax depreciation differences for partners and shareholders of pass-thru entities when the partner/shareholder is the resident of a state that does not accept bonus depreciation.
There are many CA residents who have an interest in LLCs and S Corps that are not operating in CA. They need to add back the bonus depreciation taken at the federal level since they much report their worldwide income to CA using CA rules.
Currently, a partnership that owns rental property in AZ (which accepts the federal amount) does not calculate the add-back for CA residents.
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