I’m filing a Minnesota partnership return (Form M3), not an individual return, so I do not have M1MB in my forms list.
Line 2a of the "Adjustments to Federal Taxable Income (FTI) Smart Worksheet" is correctly pulling 60% of my federal bonus depreciation (Sec. 70301 addback).
However, Line 2b ("Amount of allowable depreciation for assets on 2a") remains zero and triggers a review error requiring a negative number.
I do have a "Bonus Depreciation Adjustments" form that pulls 100% of federal 4562 line 14 and calculates the 60% Sec. 70301 addback correctly.
However, the required 1/5 recovery of that addback is not being generated on Line 2b of the FTI worksheet.
Is TurboTax currently generating the 5-year amortization schedule for Sec. 70301 addbacks in Minnesota partnership (M3) returns? Or will it?
