Income/Deductions worksheet. 5747.01 (A) (20) (a). This amount will not vary in computing business income for federal and Michigan tax purposes. By statute, Pennsylvania does not allow federal bonus depreciation that is provided for under Internal Revenue Code § 168(k). Code Section 179 Expensing Must add back 80% of Section 179 expense in excess of $25,000 and subtract 1/5 of the addback amount in each of the next five tax years. I have a Minnesota return with federal sec 179 expensing of office equipment $5,857. The second layer will be apportioned to the beneficiary from the trust. See R.C. Bonus Depreciation. The state adjustment for the federal bonus depreciation is an addback of the amount taken on a federal form (rather than the difference between depreciation calculated with the bonus and depreciation calculated without the bonus). None of the above affects when corresponding bonus depreciation deductions are prohibited. Bonus Depreciation Information Individual E-Filing Guidelines Corporate E-Filing Guidelines Tax Preparers: E-File Mandate Rules Agency Rules Emergency Rules Proposed Rules & Impact Statements Letter Rulings Archive Commission Decisions Education and Training Has anybody else encountered this glitch? If you did not add back 80% of the bonus depreciation for years 2001- 2005 or 2008-2017 and are claiming a suspended loss because of bonus depreciation, complete the Worksheet for Line 8. In general, H.F. 5 should decrease the Minnesota individual income tax liability of most taxpayers, and is projected to reduce individual income tax revenues by more than $530 million during fiscal year 2020-21. Property placed in service and acquired after September 27, 2017 100% bonus is allowed. Bonus depreciation is a special depreciation deduction that allows businesses to recover the cost of certain qualified property more quickly than standard depreciation. 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