1040-IN: Depreciation - Final year catch-up adjustment

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When certain special depreciation was introduced, Indiana did not initially conform with federal law. Thus, an add-back for the portion of depreciation claimed at the federal level but disallowed at the Indiana level was required. Upon conformity, the Indiana Department of Revenue advised that taxpayers should not make any further adjustments on the annual Indiana tax return until the year of disposal or final year of depreciation. In that final year, taxpayers are allowed a "catch-up" adjustment for the add-backs reported on previous returns. Enter the catch-up adjustment on Screen INAdj-2. Enter as a negative amount to report a negative add-back on Schedule 1 or Schedule B.

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