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Add Custom Method dialog

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Enter a name for the custom method, select a period convention, and select
Continue
. The
Annual Rates
 window then opens automatically, letting you enter depreciation percentages for up to 40 years.
To open this window, select
Add
 in
Setup
, the
Custom Methods
 window.

Fields and buttons

Method name
Enter the name of the new custom method.
note
Enter a descriptive name when the method isn't time based and when assets using this method will be marked as section 168(f)(1) assets. The method name prints on the subschedule for property subject to 168(f)(1) election on Form 4562.
Period convention
Select one of the following options.
  • Monthly:
     Based on number of months held during year of transaction; full month or no month for month of transaction.
  • Half Year:
     Give one-half year's depreciation in year of transaction.
  • Full year / No year:
     Full year or no year, depending on when during the year the transaction occurs.
  • Full year at acquisition / global disposal treatment:
     Full year at acquisition, or monthly if using a global disposal treatment.

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