Solved: Can I take Sec 179 on NYS and MACRS on Federal return?

kmp1 · ‎03-09-2021

itonewbie · ‎03-09-2021

NYS taxable income starts with federal AGI, which is then adjusted for various modifications. Since its Consolidated Laws do not separately provide for §179 election, AFAIK, but only modifications in relation to SUV's of taxpayers who are not eligible farmers, don't believe you can bifurcate the filing position.

---------------------------------------------------------------------------------
Still an AllStar

View solution in original post

itonewbie · ‎03-09-2021

NYS taxable income starts with federal AGI, which is then adjusted for various modifications. Since its Consolidated Laws do not separately provide for §179 election, AFAIK, but only modifications in relation to SUV's of taxpayers who are not eligible farmers, don't believe you can bifurcate the filing position.

---------------------------------------------------------------------------------
Still an AllStar

Can I take Sec 179 on NYS and MACRS on Federal return?

©1997-2024 Intuit, Inc. All rights reserved.

Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

By accessing and using this page you agree to the Terms and Conditions.