Lacerte 1040 users with "non-compliant" states for Bonus Depreciation. How to input off of a K-1 from partnership?

Maine does not allow bonus depreciation - instead they allow "regular depreciation" and then subtract what Maine allows from what the Federal return allowed and add it back on Schedule 1 of the Maine return.

I have a small bonus depreciation add back from a partnership K-1 to put onto a 1040 return for Maine.

I see where the override is, but normally there is a worksheet which accompanies the add-back (assuming the bonus depreciation was taken at the schedule C or E or F level). Lacerte does a marvelous job of creating the worksheet with the Maine return in those cases, but if I override it, there is no worksheet, and I fear, no carry forward information to work off of to ensure that this year's bonus depreciation add back will be a bonus depreciation subtraction in future tax years.  I doubt if an override is going to create in the Lacerte system any future pro-forma information which will track into the following tax years. Anyone figured out a way to create this worksheet in the State "side" of the tax return so it gets pro-formed, tracks the future subtractions, and attaches the necessary worksheet with the tax return to Maine? I also fear that Maine will reject the return without the worksheet -- I've been rejected in the past for "overriding" a figure onto Schedule 1 additions and subtractions adjustments on the Maine return.

No answers have been posted

More Actions

People come to Accountants Community for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach: