Can someone in NY help me with a depreciation question? I'm taking bonus depreciation for Federal and trying to use Section 179 on the state side of it. It's not adjusting. I'm on form IT 398 worksheet and there are line items for cost basis, federal depreciation, NYS Section 179 (all of these three are showing the same figure), and then NY Depreciation (which shows the regular amount). Do I just adjust that line item to match the NYS Depreciation line? This is my first time doing this.
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NYS does not accept Bonus depreciation. If you're looking to write off a new asset in full you must use 179 onlyThis post is for discussion purposes only and should be verified with other sources before actual use.
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Based on my reading, I should be able to use Bonus on Federal and Section 179 on NYS. It's not working properly though.Comment
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I'll check my program................This post is for discussion purposes only and should be verified with other sources before actual use.
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My program won't let me either. Why do you need Bonus, just use 179.This post is for discussion purposes only and should be verified with other sources before actual use.
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