How to handle prior year special depreciation for Sch E for california/state tax
- On my tax return for last year on my rental property Sch E, my tax person took a "special depreciation"
- This special depreciation was about $24,000, and per my understanding, it was partially absorbed on the federal side and partly rolled over to 2022 tax year
- On the federal side, the $24,000 was entirely taken for the 2021 tax year due to special depreciation
- On the state side, it is being split over 15 years
- How do I enter the special depreciation on my current tax return, in essence entering the special depreciation from last year (that was fully depreciated on federal), but only 1 year depreciated on state side.
February 21, 2023
5:14 PM
