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Charlie_GC
Level 1
June 2, 2020
Question

NY depreciation allocation

  • June 2, 2020
  • 1 reply
  • 14 views

How do you allocated depreciation on a multi-state S corp for NY? The check box for "Placed in service outside New York state" does not seem to have any effect. All assets with special depreciation are being reported on IT-399.

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1 reply

sjrcpa
sjrcpa
Level 15
June 2, 2020

I don't think you can allocate depreciation.

I believe Fixed Assets get apportioned, if you can use a property apportionment factor. If you can, make sure each asset is coded to its relevant state.

The more I know the more I don’t know.
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