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New car depereciation very different on form 3885a for California State tax vs federal tax
I bought a new car and on my federal tax the depreciable amount was over $12,000 however on form 3885A the California depreciation deduction is just ~900 $ with an adjustment upwards to my income of of over 11,500 (the difference between the federal and state depreciation amount)
I can't find out the reason why? How is the ~$900 in (f) on 3885A calculated and why is it so much lower than federal?
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March 8, 2022
4:53 PM