bonus depreciation in year retired
Hi
We are using the seeded 50% Bonus depreciation methods for Tax Books setup . Not sure if the depreciation is getting calculated accurately when the asset is retired
For example .
By using MACRS 50 B HY convention , with 5 year life , the depreciation for an asset in first year with cost : 10000 becomes 6000 ( i.e 5000 Bonus + 1000 normal depreciation)
However when we retire the same asset in the first year itself , where depreciation is to be calculated , the depreciation in this year becomes 2000 ,
Since we are having half year convention , the depreciation for the first year should be half of 6000 which is 3000
Can