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One time bonus depreciation in Tax Book

in Assets 7 comments

Summary:

Hi Experts,

We have a requirement to do 60% one time bonus depreciation if Asset's date placed-in-service is of 2024 along with regular depreciation.

When we configure bonus rule for same, system calculates 60% bonus depreciation but prorates it for 2024. So if asset's cost if 1200 USD with one year life and start date of 01-Oct-2024, system calculates depreciation as 100 USD (regular depreciation)+60 USD (60% of 1200/12).

Client wants it as 100 USD +720 USD for Oct-24 and 100 USD for each of remaining months of 2024.

Any idea, How do we achieve this?

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