I am handling a tax return where the depreciation of the rental property is X in the federal tax return. However, ProConnect California calculates almost 3X depreciation in the state tax return. Where did I make a mistake?
Best Answer Click here
Never mind. I found the source of the problem. The cost bases were different. After I correct it, then the depreciation amounts are the same.
Never mind. I found the source of the problem. The cost bases were different. After I correct it, then the depreciation amounts are the same.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.