2014 Arizona: Recalculated State Depreciation
On an Arizona individual Form 104, line 15, the total depreciation on the related federal return is listed as an addition to the federal adjusted gross income. Further down the return, the recalculated Arizona depreciation is listed as a subtraction on line 24.
For 2014, certain taxpayers, who had regular depreciation and no bonus depreciation for their business, may have an incorrect Arizona tax return.
TurboTax has fixed this issue.
How to tell if you may be impacted
You may be affected if ALL of the following apply to you:
- You filed your Arizona tax return prior to February 18, 2015 AND
- You claimed regular depreciation for your business on the federal return AND
- You did not claim any bonus depreciation on the federal return AND
- You have an amount on Arizona Form 140, Line 15, Total federal depreciation AND
- You do not have an amount on Arizona Form 140, Line 24, Recalculated Arizona Depreciation
If you are affected, you may have overpaid your state tax. You may need to amend your 2014 Arizona return.
To amend your return:
- Follow these amend instructions for the TurboTax Online product.
- Follow these amend instructions for the TurboTax CD Download product.
- After you make the changes to your tax return, you will need to mail a copy of your amended state return.
- Your printed return will include instructions on how and where to mail it.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the 2014 Arizona: Recalculated State Depreciation.