I'm attaching the asset entry worksheet. My issue is TT is creating strange cost basis for NJ state and QBI which I have zero idea how it's calculated nor where the $50,003 is coming from? I actually deleted the form and entered a totally new asset even which fixes the depreciation for this year but, it will be an issue again next year. When I originally did my taxes this year, there was a depreciation difference for NJ and Federal and I realized it was because TT had the basis for NJ at only $50,003 which then deleting and reentering corrected the current year NJ depreciation but, as you see it will be an issue again next year.
I never take any special depreciation and attempt to have all my assets follow the state depreciation rules so I don't have timing differences.
I can not find any forms in forms mode that shows me the state basis that TT is calculating.
Any help, see attached asset entered.
Thanks.
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