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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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NY allowable depreciation
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JSK
Level 3
02-01-2023
08:13 PM
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I have a K-1 from an 1120S corp, that has NY modifications. One of the modifications is allowable NYS depreciation. I usually enter this number on Line 23, with code S-302 Shareholder pass through income. I'm just not sure if I'm doing that correctly. It's subtracting on the IT-201, as it should be, I'm just not sure if I am using the correct line on the modifications page. Can someone tell me if I am using the correct line, or if there is somewhere else I should enter it. I do not want to generate an IT-399 or other depreciation form. Thank you.
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