North Carolina 2010: Certain Customers May Have Incorrect Adjustments for Business Depreciation
Updated: 5/04/2011
Article ID: SLN50389
A new federal tax law (Small Business Job Act of 2010) extended bonus depreciation and expanded Section 179 expensing for businesses. On March 17, 2011, North Carolina agreed to partially conform to this new law.
This issue was fixed on April 7, 2011.
How to tell if you're impacted
You are affected if:
- You filed a 2010 North Carolina tax return prior to April 7, 2011 AND
- Your North Carolina return included an amount on Form D-400, line 40 (adjustment for bonus depreciation) and/or on Form D-400, line 41 ( adjustment for Section 179 expense deduction.)
If you are affected, you may have overpaid your North Carolina tax. If so, you will need to amend your North Carolina tax return.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the North Carolina - Business depreciation adjustments
Solutions
Let us do the work for you. We highly recommend this.
- Please download and print this Authorization Form.
- Complete the form and fax it to us at the number printed at the top of the form.
- A TurboTax representative will contact you (within 6 days) when your corrected return is ready to be securely emailed back to you.
- You can print, sign and mail the corrected return to North Carolina.
Or you can make the corrections yourself. However, the amend process can be complex.
- To do it yourself, please follow these step-by-step instructions.
- After you make the changes to your tax return, you will need to mail a copy to North Carolina.
- If you need assistance, call us at the phone number in the email.
