IL Special Depreciation Subtraction
A heads up to anyone with an IL partnership with pre-2021 special 100% depreciation deductions. Lacerte22 is calculating a depreciation subtraction on the IL return in error. You will need to override the deduction per customer service, as the software does this calculation automatically - yes, even though it's incorrect.
Client had assets placed in service pre-2021 where 100% special deduction had been utilized. Federal depreciation and IL depreciation were the same in those prior years, as IL had not decoupled from 100% special depreciation at that point. Decoupling happened for years ending 12/31/21 and later.
Looking back to 2021 returns, this error appears to not be present. I haven't had the opportunity to check other return types.
My PSA for the day...
