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Basis for Depreciation After Bonus Depreciation - Calculation Not Correct per US Tax

edited May 12, 2016 4:05PM in Fixed Assets - EBS (MOSC) 1 commentAnswered

Bonus Depreciation Rule and Calculations Overview in Oracle Asset (Doc ID 1105428.1)

Cost:120000

DPIS:Jan-2000

Life in Months: 24

Bonus rule: Bonus rule 1 (20%)

System depreciation amount Jan-2000(Year1) :

Current month depreciation + Bonus depreciation

=(120000/24)+ ((120000*20%)/12)= 7000

For US Tax, this is not correct.

Should be:

(96,000/24) + ((120000*20%)/12) = 6,000

Bonus is off the top.  Depreciation is taken after the Bonus Deduction.

Is there a patch?  Tax Books for US are not correct.

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