How to adjust the amount calculated via Bonus depreciation?
Summary: Need to adjust/revert the amount calculated through Bonus depreciation, which was not expected.
Content (please ensure you mask any confidential information): We have an issue where few assets calculated Bonus depreciation along with the normal depreciation. Business doesn't want the assets to calculate any bonus depreciation on corporate book. We figured out that bonus depreciation is given at two asset categories, and for those assets, it is calculating the amount. This needs to be corrected asap and we need to identify all the assets impacted by this error and propose a solution so the books can be corrected for year end.
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