Pennsylvania Partnership tax return

Forum|Forum|3 years ago
February 23, 2023
2 replies
38 views

The system has an error due to the difference between Federal and State rental income, due to depreciation. The system computes the depreciation but indicates the difference between Fed and State does not tie out. How do I fix this?

ProSeries Professional

This topic has been closed for replies.

Best answer by hnouri

PA uses different rates than federal, and program uses PA depreciation rates. If you believe the program is doing it incorrectly, you have to override it and correct it. Otherwise, the program is correct.

Please note that if you have a big depreciation in 2022 and you are using bonus depreciation, PA and many ither states do not accept bonus depreciation. However, you can include $25,000 as Section 179 for PA.

I hope this helps.

H

hnouri

Level 2

Check Depreciation for PA state and see where the differences are. You need to check individual assets for PA and compare to federal.

B

BSS CPAAuthor

Level 2

Thank you. I identified the differences, what do I enter after that?

H

hnouriAnswer

Level 2

PA uses different rates than federal, and program uses PA depreciation rates. If you believe the program is doing it incorrectly, you have to override it and correct it. Otherwise, the program is correct.

Please note that if you have a big depreciation in 2022 and you are using bonus depreciation, PA and many ither states do not accept bonus depreciation. However, you can include $25,000 as Section 179 for PA.

I hope this helps.

S

SeanS

Level 4

This is an error within the program

Calculations use to flow correctly in prior years and was working early February 2023

I had rental partnerships finished without errors

Now the errors appear

Intuit needs to correct

Sign up

Login with SSO

Let's get you signed in

Login with SSO