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Moving from Oklahoma to Texas: How do I allocate depreciation expense

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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1 Best answer

Accepted Solutions
MaryK4
Expert Alumni

Moving from Oklahoma to Texas: How do I allocate depreciation expense

Yes, you can allocate the expenses prorata according to the time you were located in each state.  

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2 Replies
MaryK4
Expert Alumni

Moving from Oklahoma to Texas: How do I allocate depreciation expense

Yes, you can allocate the expenses prorata according to the time you were located in each state.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Moving from Oklahoma to Texas: How do I allocate depreciation expense

Thanks!

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