WITAXLADY Posted July 2, 2014 Report Share Posted July 2, 2014 So the state only allows $25,000 depreciation sec 179, I took $57,000 so the K-1 for the state shows the difference as an adjustment the Sch E pg 2 income is also $57.000 lower on the agi When I go to the state should it not be $$32,000 higher? The adjustment is giving it $32,000 lower!! Seems to be missing an adjustment ... Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted July 2, 2014 Report Share Posted July 2, 2014 Shouldn't that adjustment be entered as a negative in this case? Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted July 2, 2014 Report Share Posted July 2, 2014 The difference won't be exactly 32,000 as the state depreciation (not including 179) will be higher because the assets weren't 179'd. I have no idea how WI handles this. In MD it's a separate addition/subtraction because MD starts with fed AGI. Quote Link to comment Share on other sites More sharing options...
WITAXLADY Posted July 3, 2014 Author Report Share Posted July 3, 2014 you would think so..but the k-1 doesn't do it that way... I did an adjustment as I knew what it should be,,, Thank you and there is another adjustment for income per the difference in depreciation as well. Quote Link to comment Share on other sites More sharing options...
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