New to property rental researching and I have a good understanding on the high level of property depreciation, as well as the eventual recapture process (25% flat rate federal).
My question is does the depreciation deduction carryover to state taxes, and must it be eventually recaptured by the state as well?
The state is New York. The comment below seems reasonable for the transfer of info from the federal return though. I'm not aware enough about the exact forms for recapture, but it is possible they also transfer to the state form as well.