I think I've root caused this issue.
I have new 15 year Qualified Improvement Property this year. It is eligible for a 100% federal bonus depreciation under OBBBA, but Minnesota doesn't recognize this. So the treatment is very complex.
The new Minnesota State Depreciation Worksheet is designed to handle this, I believe, but it does not pull any "state" values onto the sheet. My asset is listed on this worksheet, and I had to override the "State Cost or Other Basis", which is supposed to be 60% of the "Federal Cost or Other Basis". Then I had to calculate my own "State Depreciation Expense".
It seems like Turbotax has all the information needed to do these calculations -- back in the Federal section, there is all sorts of state information listed on the Asset worksheet, but nothing I changed there caused the information to populate onto the "State Depreciation Worksheet".
The big question is -- how will this be treated in future years? Will I have to manually manage the state depreciation myself from now until 2040? Will I be alive in 2040? Will any of us? STAY TUNED!
