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In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
In anticipation of the upcoming May 15th deadline, we've compiled a list of the most common questions here.
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NY allowable depreciation
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JSK
Level 3
02-01-2023
08:13 PM
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I have a K-1 from an 1120S corp, that has NY modifications. One of the modifications is allowable NYS depreciation. I usually enter this number on Line 23, with code S-302 Shareholder pass through income. I'm just not sure if I'm doing that correctly. It's subtracting on the IT-201, as it should be, I'm just not sure if I am using the correct line on the modifications page. Can someone tell me if I am using the correct line, or if there is somewhere else I should enter it. I do not want to generate an IT-399 or other depreciation form. Thank you.
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