I have received a K-1 from a publicly traded partnership that has bonus depreciation. I live in California and my understanding is that my state does not allow bonus depreciation.
Questions:
1) Do I need to increase my income for this K-1 by the amount of the bonus depreciation on my state return?
2) Can I claim a section 179 deduction on my state return for the amount of the bonus depreciation instead? If so, how do I do that?
