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kloomnik
Returning Member

California deduction under Section 179

This is with regard to a rental property which underwent renovation.

 

In my Federal depreciation (form 4562) I entered $15,000 under Section 179 (immediate deduction) and $14,000 under depreciation. I get a total deduction of about $16,000

In the California depreciation (form 3385A) Turbotax enters everything as  depreciation, and my total deduction is only about $1,500.

 

Can anybody explain why nothing is entered as Section 179?

 

Many thanks.  A quick response will be greatly appreciated.

 

 

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2 Replies

California deduction under Section 179

Does your rental rise to the level of a "Trade or Business"?

kloomnik
Returning Member

California deduction under Section 179

I suppose it's business (intended for profit, etc.)

In the meantime, I spent almost 2 hours on the phone with Turbotax experts -- without getting a clear solution.

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