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.