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Deductions & credits
the $25K is a state of California limitation - the 3885A is a California form.
For the 2023 tax year (when taxes are filed in 2024), the maximum deduction under Section 179 in California is $25,000. However, this amount is subject to reduction if the total cost of all IRC Section 179 property placed in service during the taxable year exceeds $200,000. Notably, California does not allow the IRC Section 179 expense election for off-the-shelf computer software
‎February 16, 2024
1:08 AM