3115 - ca

[peggysioux]

Taxpayer had asset set up in 2014 correctly with bonus depreciation of 50% and depreciation has been correct on the federal side for 2014 through 2018. However, for CA return even though asset set up originally correct in 2014 for full amount of asset with no bonus depreciation, in 2015, tax preparer somehow began calculating depreciation on the basis for federal (which was 50% less) so there is missed depreciation for CA from 2015 through 2018 of over $65,000. Would this be considered a posting or mathematical error and thus not eligible for 3115 filing for CA only?

Peggy Sioux

[TaxGuyBill]

Unless California has different rules than Federal, you are correct, that is a Mathematical or Posting Error, which is not eligible for Form 3115.

It sounds like amending the 'open' years may be a consideration.