Is Section 179 depreciation allowed in full as a subtracted item for recalcuation of depreciation for the state of Arizona? It appears that Turbo tax does not subtract this item, and also does not allow for straight line calculation of asset placed in service in 2020. Please advise.
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Arizona does not conform to Federal rules regarding all types of Depreciation.
In your Arizona interview, TurboTax will display your Federal Depreciation and ask it you need to re-calculate it.
If you took Bonus Depreciation for your asset on your Federal Return, you can accept the amount TurboTax has filled in for you from your Federal Return, as the amount that Arizona does not allow has been calculated in this amount.
Click this link for more info on Arizona 179 Depreciation.
Arizona does not conform to Federal rules regarding all types of Depreciation.
In your Arizona interview, TurboTax will display your Federal Depreciation and ask it you need to re-calculate it.
If you took Bonus Depreciation for your asset on your Federal Return, you can accept the amount TurboTax has filled in for you from your Federal Return, as the amount that Arizona does not allow has been calculated in this amount.
Click this link for more info on Arizona 179 Depreciation.
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