Taxes3432 wrote:

- quote -

You answered your own question in the last sentence. You may
not use the federal amount on the CA return. You have to
obtain the necessary data and complete Form 3885A to make
the adjustment. Don't look for FTB 3885A on the CA FTB
website. Look for: Form 540 Schedule D/3885A.

--
Alan
http://taxtopics.net

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Taxes3432 wrote:

- quote -

You need to contact the partnership to get the correct
information.

Katie in San Diego

The foregoing is intended for educational purposes only and
does not constitute legal or professional advice.

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"Taxes3432" <Taxes3432[at]hotmail.comIRC> wrote:

- quote -

You need to communicate with the partnership to have them
compute CA differences (most tax programs will do this when
the preparer codes each partner with that person's state of
residence).

--
Tom Healy, CPA
Boulder, CO
Web: http://www.tomhealycpa.com

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For California (and any other states that do not conform to
bonus depreciation), what if you receive a federal and out
of state K-1 (no California K-1). The federal K-1 contains
say rental income which includes bonus depreciation. You
did not recieve a California K-1 because the partnership has
no nexus to California. You do not have any footnote
disclosures noting the amount of bonus depreciation. Are
you supposed to report the federal K-1 numbers for
California? But obviously it would be wrong as you are
reporting bonus depreciation somewhere in the rental income
figure which is not allowed under California law.

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