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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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NY depreciation allocation
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Charlie_GC
Level 1
06-02-2020
12:18 PM
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How do you allocated depreciation on a multi-state S corp for NY? The check box for "Placed in service outside New York state" does not seem to have any effect. All assets with special depreciation are being reported on IT-399.
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1 Comment 1
sjrcpa
Level 15
06-02-2020
01:05 PM
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I don't think you can allocate depreciation.
I believe Fixed Assets get apportioned, if you can use a property apportionment factor. If you can, make sure each asset is coded to its relevant state.
The more I know, the more I don't know.
