I have a prompt to fix an entry on California State form 2106 Adjustment Wks - Asset Entry Worksheet. It says Recovery period must be entered. What does this mean?
I have a prompt to fix an entry on California State form 2106 Adjustment Wks - Asset Entry Worksheet. It says Recovery period must be entered. What does this mean?
The "recovery period" refers to how long you are depreciating the asset. If it is a vehicle, you would depreciate it over five years. This would show up (or be entered as) 60 (months).