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Level 2
April 10, 2023
Solved

Discrepancy in the amount of depreciation on the state tax returns compared to the federal tax return?

  • April 10, 2023
  • 1 reply
  • 7 views

I am handling a tax return where the depreciation of the rental property is X in the federal tax return.  However, ProConnect California calculates almost 3X depreciation in the state tax return.  Where did I make a mistake?  

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Best answer by chenlinff-gmail-

Never mind. I found the source of the problem. The cost bases were different.  After I correct it, then the depreciation amounts are the same. 

1 reply

chenlinff-gmail-AuthorAnswer
Level 2
April 11, 2023

Never mind. I found the source of the problem. The cost bases were different.  After I correct it, then the depreciation amounts are the same.