Calculate and compare prior depreciation amounts

Open the desired client and, if necessary, select an activity folder

Select an asset then select

Modify

.

Select

Prior Depreciation Comparison

on the toolbar.

In the Prior Depreciation Comparison window, select the tab for the desired treatment and compare the amounts displayed in the

Amount on file

and the

Computed amount

fields.

For assets coded as listed property, luxury auto, van and light truck, or sport utility vehicle: The current year's business use percentage appears in the

Current year

field. If you change the percentage in this field, the

Business use percentage

field in the Vehicle/Listed or Home Office tab automatically updates. Enter the business use percentage for each of the prior 5 years, as applicable for the client. These percentages are used in calculating prior depreciation. The

Five years ago

field is also used in calculating prior depreciation for any period earlier than 5 years ago.

Indicate which amounts you want to use by performing 1 of the following tasks.

For assets coded as listed property, luxury auto, van or light truck, or sport utility vehicle: To save the business use percentages you entered and use the manually entered or proforma'd amounts for all treatments, select
Save Use Percentages
then select
Exit
.
To use the manually entered or proforma'd amounts for all treatments: Select
Cancel
.
To use the application-calculated amount for a treatment: Select a treatment tab and then select
This Treatment: Use Computed Amount
.
To use the application-calculated amount for all treatments: Select
All Treatments: Use Computed Amount
.