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Tax Add-Back If you claimed a deduction on a Schedule C, C-EZ, E, or F for taxes paid based on, or measured by income and levied at a state level by any state in the U.S., you must add this deduction back to your Indiana return. DO NOT INCLUDE PROPERTY TAXES ON THIS LINE.

For 2021 and 2022, Taxpayer will claim the otherwise allowable depreciation but will have zero apportionment, effectively disallowing the deduction. For 2023, $115,200 will be permitted as a depreciation deduction, and for 2024 $57,600 will be permitted as a depreciation deduction for the last year.

IRC §174 Treatment for Indiana Purposes Previously, Indiana's conformity to the IRC resulted in the state's conformity to IRC §174 under the Tax Cuts and Jobs Act (TCJA), requiring capitalization of 2022 research and experimental expenses and subsequent amortization over five years generally.

Meal Deduction Add-Back (3-digit code: 149) If you: ? claimed a deduction for meal expenses with regard to food and beverages provided by a restaurant in computing your federal adjusted gross income; AND ? the deduction would have been limited to 50% of the meal expenses if the expenses had been incurred before Jan.

Infrastructure Fund Gift Deduction (3-digit code: 631) Shareholders or partners may be eligible to claim a deduction if a contribution has been made to a regional development infrastructure fund.

To qualify for bonus depreciation, the property must be (1) tangible depreciable property with a recovery period of 20 years or less; (2) water utility property; (3) computer software; (4) qualified leasehold improvement property. In March 2016 Indiana Gov.