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Calculation > Bonus Depreciation Elections dialog
Show all expandable content
Use this window to select the asset classes that are electing out of the bonus depreciation deduction per IRS Code section 168(k) or 1400N.
note
Whether or not current and prior depreciation calculate the additional depreciation for a qualified asset depends on whether the asset's class follows section 168(k) or 1400N or has elected out.
To open this window, select Bonus Depreciation Elections in the Setup, Options, then Calculation tab.
Fields and buttons
note
- All asset classes follow section 168(k) and 1400N by default.
- This window contains tabs for current and prior years.
Qualified 30%: Elect Out of Bonus Depr
Using the checkboxes that are available for each asset class, you can select to elect out of the 30% bonus depreciation for qualified 30% bonus depreciation assets for the selected year.
Select Elect All to have all asset classes elect out of 30% bonus depreciation for the selected year. After you select Elect All, its name changes to Unmark All.
Qualified 80% / 100%: Elect Out of Bonus Depr
Using the checkboxes that are available for each asset class, you can select to elect out of the 50% / 100% bonus depreciation for qualified 50% / 100% bonus depreciation assets for the selected year.
Select Elect All to have all asset classes elect out of 50%/100% bonus depreciation for the selected year. After you select Elect All, its name changes to Unmark All.
note
If you elected out of bonus depreciation for qualified 50% / 100% bonus depreciation property, the corresponding checkbox in the Qualified 50%/100%: Elect 30% Bonus Depr column is not available.
Qualified 80% / 100%: Elect 30% Bonus Depr
Using the checkboxes that are available for each asset class, you can select to elect to take 50% bonus depreciation (instead of 100%) for qualified 100% bonus depreciation assets for the 2010 tax year if the tax year includes the date of 9/9/2010 or for the 2017 or 2018 tax year if the tax year includes the date of 9/28/2017 or for the 2024 or 2025 tax year if the tax year included the data of 1/20/2025..
Select
Elect All
to have all asset classes elect the 50% bonus depreciation for the selected year. After you select Elect All, its name changes to Unmark All.note
If you elected out of bonus depreciation for qualified 100% bonus depreciation property, the corresponding checkbox in the Qualified 100%: Elect 50% Bonus Depr column is not available.
GO Zone: Elect Out of Bonus Depr
Using the checkboxes that are available for each asset class, you can select to elect out of bonus depreciation for qualified GO Zone assets for the selected year.
Select Elect All to have all asset classes elect out of GO Zone bonus depreciation for the selected year. After you select Elect All, its name changes to Unmark All.
Disaster Area: Elect Out of Bonus Depr
Using the checkboxes that are available for each asset class, you can select to elect out of bonus depreciation for qualified disaster area assets for the selected year.
Select Elect Allto have all asset classes elect out of disaster area bonus depreciation for the selected year. After you select Elect All, its name changes to Unmark All.