Scotiabank's Annual Report is online now. Explore here. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services.. We are dedicated to helping our 23 million customers become better off through a broad range of advice, products and services.
No other assets were added, and only prior year assets were depreciated in 2013. My question relates to being able to elect OUT of the bonus depreciation on the amended 2013 return... I see the rule that a missed election out can be made on an amended return if file within 6 months of original due date.
The federal American Recovery and Reinvestment Act of 2009 extended the 50% bonus depreciation available to certain property an additional year [see Economic Stimulus Act of 2008 below], through December 31, 2009. North Carolina law did not adopt the bonus depreciation provisions under IRC sections 168(k) or 168(n).