2017 Tax law changes and impact to AM
We are testing the potential tax law change for 100% bonus depreciation for assets added since 9/27/2017. We updated our Bonus Depreciation setup and then updated an asset added with a transaction date of 10/14/17. The book/tax change transaction we dated 10/15/17 transaction date and then changed the bonus depreciation code and the bonus percent on the asset. Then we ran Deprec Calc and it did not update the asset to take 100% depreciation in 2017.
Is there some step we missed. Is there going to be a tax patch issues for the changes or is it just going to be configuration changes that we need to make.