Section 179 or Bonus Depreciation for assets exceeding California limit of $25k

[anon30]

My business has two assets with basis of $39k and $14k placed into service in 2020.  I can take full 179 deductions on my Federal return, but only $25k max total 179 deduction on my California return.  What's the best strategy here?  Do I set up different depreciation schedules for the same assets for Federal vs. State, or do I use Bonus instead of 179 so I can use the same depreciation in both returns?  

[Mike9241]

it should be automatic so eventually, you get the full depreciation for Ca. on the asset worksheet there is a state calculation but you can't see the form in the online versions. 

[Critter-3]

You can peek at only  the Federal form 1040 and the summary of the state info by going here:

1) lower- Left side of the screen...click to the left side of the "Tax Tools" text selection.
2)  then select "Tools"
3) then select "View Tax Summary" from the pop-up
4) then back to the left-side and "Preview 1040"

Then hit the "Back" on the left side to get back to your tax entries.

To view your entire return using the online editions (including the state) before you file, you will need to pay for your online account.

To pay the TurboTax online account fees by credit card, without completing the 2020 return at this time, click on Tax Tools >>> Tools  and then Print Center.  Then click on Print, save or preview this year's return.  On the next page, to pay by credit card, click Continue.  On the next screen it will ask if you want Audit Defense, if you do not want this option just click on the Continue button.  The next screen will ask for all your credit card information so you can pay for the account.

[anon30]

Critter-3, thank you for your comment, but my question is not about how to use Turbotax, but about what deductions I can / should use in my particular situation where California does not allow a full section 179 deduction, and also does not even offer a bonus or special deduction.  

[Critter-3]

If you want the fed & state returns to match then skip the 179 ded  and opt out of the bonus depreciation if you wish.  Otherwise take any option you want on the fed return and the state return will be adjusted to comply with CA rules.