I do not understand the federal bonus depreciation addition. How do I determine the partner’s share?
Minnesota did not fully adopt the bonus depreciation provision of the “Job Creation and Worker Assistance Act of 2002” (IRC section 168[k]). The federal provision allows taxpayers to elect to deduct a percentage of the cost of most new capital assets placed in service between September 10, 2001 and September 11, 2004.
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