What is the effect of changing Life Years in Default Depreciation Rules
Hello
I would like to know if changing the Life Years of the Default Depreciation Rules in an Asset Category impacts in the depreciations calculation of current and/or past periods.
Should I end date the assets Place in Service range dates and create a new default depreciation rule as from now onwards?
What happens with assets that were placed in service during the original default rules? Do they still depreciate with the original rules?
Thanks
Alicia