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- New Jersey Partnership tax treatment of Federal Section 481(a) adjustment
New Jersey Partnership tax treatment of Federal Section 481(a) adjustment
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kathyscpa
Level 2
05-17-2020
09:38 AM
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For 2019, I have a federal Section 481(a) deduction for change in prior year asset lives and depreciation.
1. I do not know if NJ 1065 allows the deduction.
The loss from the federal return carries right over to the NJ 1065 return.
2. How do I adjust the NJ Partnership return if not allowed. I do not want to override the net loss that carries over directly from the federal return.
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