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Intangible drilling cost in California
I entered K-1 for intangible drilling cost (loss entered as deduction). Turbo Tax has applied the deduction to both Federal and California state returns. From 2024, California does not allow intangible drilling cost deduction but Turbo Tax seems to have applied it for California as well. Can someone help on how to handle intangible drilling cost deduction for California ?
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‎April 1, 2025
10:42 PM