I live in North Carolina, a non-conforming state. I am trying to figure out the various Depreciation entries on the K-1 and Sales Worksheet as a partner in a PTP. The Sales Worksheet has information in columns 10 and 11, "Adjusted for Bonus Depreciation". Col 10 is Cumulative adjustments to basis, negative # and 11 is Gain Subject to recapture as ordinary income, positive #. I've finished doing the federal adjustments but do not know how to enter these items into the NC K-1 in Turbo Tax Deluxe. I've already done the federal adjustments to the 1099-B.
Also, Box 20AH3 has Depreciation Adjustment for Non-Conforming States for the 3 "activities" of Energy Transfer LP. I do not see a relevant place to put these on the NC K-1.
Then there are State Information Schedules for the 3 Activities that have a column 3, Potential Bonus Depreciation adjustment to columns 1 & 2. These values are -5 and 3, respectively for column 1, ordinary income or loss from this activity, and column 3. The other activities have 0 for income and potential bonus dep adjustment.
How are these related, if they are?
