Did you select bonus depreciation? You may need to complete form 4562A and 4562B for the depreciation to show up. These are the Iowa depreciation adjustment schedules for Federal depreciation rules that do not couple with the Iowa deprecation rules. On your federal return, if you claimed bonus depreciation, Section 179 expense in excess of $100,000 in previous years, or possible other depreciation deductions on the the federal return that were not allowed on the Iowa return.
If you are using TurboTax Desktop
- In the upper right hand corner of the screen switch to Forms mode by selecting Forms
- Scroll down the right forms till you find in the Iowa return section
- Select form 4562A then 4562B and complete the necessary adjustments to Federal depreciation
Click here for a link to the Iowa 4562A and 4562B forms and instructions.
