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Level 2
August 19, 2020
Question

AZ bonus depreciation

  • August 19, 2020
  • 1 reply
  • 4 views

lacerte partnership return form 165 line B1 include bonus depreciation (which is not allowed by AZ). Why? Do I need to override?

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    1 reply

    BobKamman
    Level 15
    August 19, 2020

    I manage to avoid doing partnership returns but the 165 instructions say, 

    For assets placed in service in taxable years beginning after
    December 31, 2016, enter the total amount of depreciation
    allowable pursuant to IRC § 167(a) for the taxable year
    calculated as if the bonus depreciation had been the full amount
    of federal bonus depreciation pursuant to IRC § 168(k).

    Is there a long way around the barn here, that says some bonus depreciaton is not allowed?