@Fou65000 'Income' is usually referring to profits, while 'Receipts' is usually referring to revenue.
As to Bonus Depreciation, it may lower or increase taxes because it can be positive in some years and negative in others. If you're going to continue with MLPs, you'll want to figure out how to handle it in your state filing, since it will show up every year and, when you sell, there will also be an adjustment to the Ordinary Income reported in the state (because the amount of Ordinary Income reported by the partnership also changes with depreciation).
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**Note also, I'm not a Tax Preparer/CPA. Just a volunteer, seasoned, TurboTax user.
Use any advice accordingly!
