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REAL ESTATE DEPRECIATION
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tom26
Level 1
03-23-2024
05:14 PM
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I HAVE A CLIENT THAT IS A RESIDENT OF CALIFORNIA. HE HAS ABOUT 8 RESIDENTIAL RENTALS. SEVERAL OF THEM ARE LOCATED IN KENTUCKY. THE REST ARE LOCATED IN CALFIORNIA.
HOW DO I GET THE DEPRECIATION TO BE A DEDUCTION IN CALIFORNIA EVEN THOUGH THE PROPERTIES ARE LOCATED IN KENTUCKY. WHEN I CLICK ON THE TAX SUMMARY NONE OF THE DEPRECIATION IS BEING ALLOCATED TO CALIFORNIA
THANKS
TOM BAKER, CPA
1 Comment 1
Strongsilence-C
Level 9
03-23-2024
06:41 PM
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Codes: Fed, CA, and KY.
How to allocate amounts on a multi-state individual return (Form 1040) in Lacerte (intuit.com)
