Force the property type bonus depreciation
Fixed Assets CS automatically calculates the bonus depreciation deduction for treatments that comply with each type of bonus for:
- Assets placed in service between 9/11/01 and 12/31/04 or 1/1/08 and later
- Assets marked as located in the GO Zone between 8/28/05 and 12/31/07
- Assets marked as located in a Disaster Area and placed in service after 12/31/07 for disasters declared after 12/31/07 and happening before 1/01/10
If the assets depreciate:
- Over 20 years or less using any MACRS method (other than MACRS SL ADS Life or MACRS 150% ADS Life), as long as the MACRS class life hasn’t been elected out.
- Using Amortization with 167 - Computer Software selected in theAmortization sectionfield on the asset'sOthertab, as long as Computer Software 167 (168(k)) hasn’t been elected out.
For some qualified assets, you need to enter a bonus depreciation type.
To force the property to calculate (or not calculate) the bonus depreciation deduction, perform the following steps.
- Open the Asset List window for an activity.
- In theAsset Listwindow, double-click the asset you want to force a GO Zone/168(k) code for.
- In theAsset Detailwindow, select theOthertab.
- In theGO Zone/168(k) (force)field, select the type of property.
- SelectDoneto return to theAsset Listwindow.noteIf you've marked theUsedcheckbox in theAsset Detailwindow,Prop not qualified (GO Zone/168(k)/168(n))is automatically selected in theGO Zone/168(k) (force)field.
