Bonus depreciation (1041 NC)
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Hide expandable textThe add back for bonus depreciation is 85% of the bonus depreciation you take on the federal return. The state allows the add back as a deduction spread over the subsequent 5 years at 20 % per year. The current adjustment amount appears on Form 407, Page 2, Schedule A line 3. The previous deductions are shown on Schedule A, line 10.
According to the North Carolina 1041 auditor, there is no adjustment necessary for GO Zone depreciation on the NC 1041 return.
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