MACRS depreciation not getting calculated for converted Assets
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:
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?