Fully depreciate annual depreciation expense in the period it is added — Cloud Customer Connect
You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Fully depreciate annual depreciation expense in the period it is added

Accepted answer
11
Views
1
Comments

Summary: Our tax team would like to have the full MACRS 80% Depreciation rate (84% in year 1) applied in the rate the asset is added into the system. For instance if entered into Feb-23 period they would like a Feb-23 $8,400 expense (on a 10k asset cost) and then no deprecation expense again until January 2024.


Content (please ensure you mask any confidential information):


Version (include the version you are using, if applicable):


Code Snippet (add any code snippets that support your topic, if applicable):

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!