lisahcpa
Level 1

ISSUE FOR ENTITIES: NYS DOES NOT FOLLOW FEDERAL DEPRECIATION RULES. IT-399 NYS DEPRECIATION DOES NOT FLOW THRU.  ON THE FEDERAL FORM 4562 THERE IS A STATE INPUT SECTION.  IF YOU OVERRIDE THE YEARS FOR DEPRECIATION IN THE STATE INPUT IT DOES NOT POPULATE FORM IT-399 ON NYS CORPORATION RETURN.  EXAMPLE FEDERAL ASSET FURNITURE DEPRECIATE YEARS IS 7 FOR NYS IT IS 10 YEARS.  THE COMPUTER SHOULD BE ABLE TO CALCULATE AND COMPLETE FORM IT-399 TO SHOW THE DIFFERENT DEPRECIATION METHOD. WHEN YOU ENTER AN ASSET ON FEDERAL RETURN AND GO TO THE STATE DEPRECIATION SECTION UNDER ASSET STATUS IT STATES FEDERAL AMOUNTS USED.  THIS OPTION CAN NOT BE CHANGED.  THERE SHOULD BE A WAY TO TELL THE COMPUTER TO USE STATE RULES NOT FOLLOW FEDERAL SO THAT FORM IT-399 WILL POPULATE.  MY PHONE IS [removed] SHOULD YOU NEED FURTHER EXPLANATION. THIS IS IMPORTANT.  PLEASE UPDATE FOR 2022 BEFORE 9-15-23 DEADLINE!!!!

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