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how to report a newly purchased refrigerator as expense in state tax return in the second year?
Hi,
I started a rental property in 2021 and purchased a new refrigerator which I used section 179 to deduct it at the full price for federal tax return in 2021. As in California this refrigerator needs to be deducted in 5 years, so 4/5 of the full price was added back as income in state tax return in 2021. This year (2022), 1/5 of the purchased price should be claimed as expense in state tax return but not federal tax return. Wonder how to claim it in state tax return only? Please help.
Thanks,
Belinda
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March 25, 2023
2:15 AM