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California bonus depreciation 2022

2022 California Form 3885 L Depreciation and Amortization. 2022 California Form 3885 L Depreciation and Amortization-2025

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The document is the 2022 California Form 3885L, which provides instructions for calculating depreciation and amortization for tangible and intangible assets placed in service during the taxable year. It outlines the necessary information to report, including asset descriptions, costs, methods of depreciation, and adjustments for differences between California and federal tax laws. The form is intended for use by Limited Liability Companies (LLCs) to compute deductions on their income tax returns.

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How to use or fill out 2022 California Form 3885 L Depreciation and Amortization

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Click ‘Get Form’ to open it in the editor.
Begin by entering your name as shown on your return, along with your California Secretary of State file number and FEIN at the top of the form.
In Section A, list each asset placed in service during the taxable year. Fill out columns (a) through (i) for each asset, including description, date placed in service, cost, method of depreciation, and applicable rates.
Calculate total depreciation for this year by summing up column (f) totals and enter it on line 1(f). Similarly, calculate total amortization from column (i) and enter it on line 1(i).
Complete lines 2 through 6 to report any prior year assets and compute total depreciation and amortization. Ensure you adjust for any basis differences as required.
Finally, review all entries for accuracy before saving or exporting your completed form directly from our platform.

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See more 2022 California Form 3885 L Depreciation and Amortization. 2022 California Form 3885 L Depreciation and Amortization versions

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Versions	Form popularity	Fillable & printable
2022	4.2 Satisfied (50 Votes)
2021	4.8 Satisfied (51 Votes)
2020	4.4 Satisfied (120 Votes)
2019	4.3 Satisfied (61 Votes)
2018	4.3 Satisfied (179 Votes)
2017	4.3 Satisfied (58 Votes)
2015	4.3 Satisfied (139 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can you take 100% bonus depreciation on vehicles in 2022?

Under prior law Bonus Depreciation began to phase down and now revert back in the middle of 2025 as follows: 2022 (100%), 2023 (80%), 2024 (60%), Jan 1, 2025 Jan 19, 2025 (40%), Jan 20, 2025 and beyond (100%).

When must a taxpayer file form 3885A depreciation and amortization adjustments with their California state tax return?

Use form FTB 3885A, Depreciation and Amortization Adjustments, only if there is a difference between the amount of depreciation and amortization allowed as a deduction using California law and the amount allowed using federal law.

What is form 3885L?

You should use California Form 3885L whenever you have assets placed in service that are subject to depreciation or amortization. This form is specifically for the 2022 tax year and must be attached to your overall state tax return. Timeliness in submitting this form is essential to ensure proper reporting.

What is the FTB 3885 in California?

Form FTB 3885, Corporation Depreciation and Amortization, to calculate California depreciation and amortization deduction for corporations, including partnerships and limited liability companies (LLCs) classified as corporations.