How do we setup tax books with MACRS HY, 50% Bonus Depreciation and 15% basis reduction?
Summary:
Client has tax assets that have a 30% energy credit, 15% basis reduction, and bonus deprecation of 50% in first year with MACRS HY.
Content (please ensure you mask any confidential information):
MACRS setup works; Bonus of 50% works. But there is no option to update basis reduction. I also used MACRS HY 50B and created a bonus rule for the basis reduction, however, this took the basis reduction to the bonus depreciation reserve amount.
Version (include the version you are using, if applicable):
Fusion Assets 24D
Code Snippet (add any code snippets that support your topic, if applicable):