I moved from Oklahoma to Texas in 2020 and filing an Oklahoma Form 514 for my LLC Partnership.
It asks me to allocate income and expenses to Oklahoma vs. everywhere else.
Since depreciation is a large part of my business expense, can I allocate a percentage of the depreciation to Oklahoma for the time I remained there in 2020?
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Yes, you can allocate the expenses prorata according to the time you were located in each state.
Yes, you can allocate the expenses prorata according to the time you were located in each state.
Thanks!
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