Peter Fay
Returning Member

Different asset basis for Federal and State

When using TT business, assets are entered on the Federal side and they carry over to the State return.  TT does a good job adjusting for differences in Section 179) deductions where my state (Hawaii) has  $25,000 limit.  TT will show you the Asset Life History (complete depreciation schedule) for an asset on the Federal side but I can't find a way to see the Asset Life History for my state.  Any clue as to how so see that or do I just have to trust TT to do it correctly each of the next 5 years?

Also, I have an asset that will have a different basis on the Federal and State sides.  I see no possibility anywhere to overriding the basis on the State side of the program.  Any suggestions???