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KY has a $25K 179 max per year. The KY return has depr. adj. for assets that were written off 100% on the fed. via Sec. 179 in a prior year but limited on KY.

montgomery
Level 1

Where in the program can I find a KY depreciation worksheet that reflects the current year and accumulated depreciation by asset?

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Accountant-Man
Level 12

KY federal/state adjustment summary.

On the federal asset worksheet, you must change the KY Sec 179 deduction to $25,000 from what ever the federal amount was. It is under State Depreciation.

** I'm still a champion... of the world! Even without The Lounge.

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Accountant-Man
Level 12

KY federal/state adjustment summary.

On the federal asset worksheet, you must change the KY Sec 179 deduction to $25,000 from what ever the federal amount was. It is under State Depreciation.

** I'm still a champion... of the world! Even without The Lounge.
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