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It 201 X the New York State Department of Taxation and Tax Ny Form

It 201 X the New York State Department of Taxation and Tax Ny Form

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all right for this video I want to talk about some potential bonus depreciation traps that can happen when you have income earned in a state and potential depreciation deductions but that state does not follow the federal bonus depreciation rules so in our example here we're going to have a taxpayer that's a Florida resident and has a rental property in New York and needs to figure out uh what is the impact of claiming bonus depreciation on the federal return and how would that impact their New York State income taxes so I've got the tax returns in front of us here so our taxpayer Jacob Q taxpayer again he's a non-resident so we're filing the it 203 form and I've got two versions of this so one is where we decide to use the bonus depreciation and see its impact on the state level and then another version where we elect out of using Federal bonus depreciation and then there we can see the impact not just on the state return but also the im

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