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Business & farm
the question is does you state allow bonus depreciation according to federal tax laws? if it does ignore columns 10 and 11.
if it does not did you adjust the income/loss reported for the state for the unallowable depreciation for each year of ownership?
if you did then you have to take into account column 10 and 11 for the state amount (not federal) of capital gain/loss on sale and column 11 for (not for federal) the ordinary gain portion. If you need to do this, you will have to get help from other as to how to enter in Turbotax
‎October 4, 2023
9:29 AM