Bonus depreciation or Section 179 on assets newly entered in the application with prior-year depreciation or Section 179 addbacks

  • For a client that's new to the application and has prior Maine addbacks for bonus depreciation on assets placed in service after January 1, 2008, use associations
    ME - Original add
    and
    ME - Bonus recap
    . Enter the original addback and prior recapture amounts in these fields for bonus depreciation on these assets, except for assets the Maine capital investment credit was taken on.
  • Assets the Maine capital investment credit was taken on should leave these fields blank. Instead, mark the
    Qualified for capital investment credit
    checkbox on the
    Credit Information
    window. (To open this window, select the
    Other
    tab then
    Credit Information
    .)
  • For bonus recapture from 2002-2007 and Section 179 recapture from 2002-2010, enter the data in the
    Bonus depreciation and Section 179 recapture
    field on the
    MEDepr
    screen. After the initial year using the application, no additional data entry is required.
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