How do we handle a fixed asset for tax purposes that is part of a cost segregation study?
Summary:
We have an asset that is part of a cost segregation study and would like to track depreciation in the system instead of offline spreadsheets. See the details below for a detailed explanation.
Content (please ensure you mask any confidential information):
We have an asset that was placed into service in 2017 and copied to our tax book. For tax purposes, the cost of the asset is broken out into 5, 7, 15 and 39 years as part of a cost segregation study. What is the best way to handle this in Fixed Assets.
In our Corporate book, the fixed asset remains unchanged, but in the tax book, the fixed asset is broken out by different depreciation schedules. In a quick search, I found this.
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