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MACRS depreciation not getting calculated for converted Assets

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in Assets 1 comment

Summary: Assets are converted in the tax books with YTD Dep and Reserve Dep and asset still has a 7 years life. But depreciation is not calculating. This is happening only for MACRS depreciation method.

Below are few details:

DPIS 3/31/23

Cost: 81,733.85

Reserve: 13,544.60

YTD: 13,544.60 til Apr-23

80B MACRS HY with 7 years life

HALF YEAR Prorate convention with Prorate date 7/1/23

Expected depreciation for May-23 is 6772.30 but it is calculating zero dollar depreciation.

Any insights on this?


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