Bonus Rules defined but depreciation is not calculating properly for Tax book
Hi,
We have created bonus rules in one of our test instance and tried but not calculating bonus depreciation its calculating the wrong amount.
For the Bonus Rule, The requirement is as mentioned below.
If Assets placed in service between
1/1/2008 to 9/8/2010 50%
9/9/2010 to 12/31/2011 100%
1/1/2012 to 12/31/2013 50%
I took one asset 46082, applied the bonus rule (50%) we got one result but it is not correct.
Asset details:
Asset orginal cost is 5000
Date placed in service is 22-Jan-2006
Method is 200DB
Years 7
Prorate convention HY
We are expecting below result..
1. Bonus depreciation is not spread out over a 12 month period. It is depreciation in the month that the asset is placed in service. In this example, $2,500 of bonus depreciation should be calculated and included in the depreciation expense for January, 2006.
0