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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.
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- Re: Maryland Decoupling & Special Depreciation
Maryland Decoupling & Special Depreciation
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bogwhan
Level 1
09-01-2021
05:50 PM
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I have actually stayed away from special depreciation for various reasons but now I'm looking at it. I think I understand the 179 decoupling relatively well but I'm having trouble with the Maryland decoupling and special depreciation either 50% or 100% . Is there any MD decoupling with special dep'n - either 50 or 100% - or am I simply stuck with using standard MD dep'n for whatever class of asset I have? Is there a $200K limitation such as there is in 179 and I have to pare back my deductions? Or does that not even matter with special depreciation? Any help will certainly be appreciated.
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sjrcpa
Level 15
09-01-2021
08:19 PM
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MD allows $25,000 Section 179 with the $200K cost limit.
MD does not allow bonus depreciation.
You can't Section 179 software.
The more I know, the more I don't know.
