Fixed Assets - EBS (MOSC)

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New IRS Tangible Property Regulations.

edited Oct 1, 2015 11:50AM in Fixed Assets - EBS (MOSC) 3 commentsAnswered

Has anyone had a cost segregation study performed to take advantage of the new IRS tangible property regulations?  If the proper elections are filed, taxpayers are allowed to split up mass assets (real estate) into multiple assets and assign more favorable accelerated lives.  Additionally to the extent the property has been abandoned/replaced, the taxpayer is allowed to write-off  the assets which were previously a component of the mass asset. Getting these changes properly into Oracle FA remains the challange.

Within Oracle Fixed Assets, our preliminary assessment of changes will need to take place:

(a)  Mass assets will need to be split into multiple assets.

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