ptax255
Level 7
yesterday
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Hi, client has done a cost segregation study for a property rented for a few years now. On the federal side, the 5-15yr property is being bonus-depreciated. I understand the adjustment will be different than federal, because CA doesn't allow bonus depreciation. Any other things I should consider for CA that are different than federal?
- Do I enter the adjustment on CA schedule E as other expense similar to federal or different wording?
- Do I file form federal form 3115? with CA? note this shows the larger depreciation amount. Do I write in the smaller CA amount? Does FTB has its own form 3115? I couldn't find one.
Thank you!
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